Adani Enterprises Q3 Revenue Down 9% YoY

31 Jan 2025 , 09:36 PM

Adani Enterprises Ltd reported a YoY decline of 8.8% in revenues, which fell to ₹22,848 crore in Q3 FY25 from ₹25,050 crore in the same quarter last year. The forex mark-to-market losses in finance costs related to its Australian mining operations, owing to the depreciation of the Australian Dollar, are the primary cause of the drop in revenue.

EBITDA declined 4.8% YoY to ₹3,069.4 crore, though EBITDA margin rose by 50 basis points to 13.4% from 12.9% last year. Expenses rose in many areas and crimped profitability:

• Finance costs surged to ₹2,141.3 crore, more than doubling from ₹596.6 crore in Q3 FY24.
• Depreciation costs rose to ₹1,005.6 crore from ₹760 crore last year.
• The forex loss was at ₹296 crore and this marked the complete reversal from the ₹101 crore forex gain of previous year.
• Tax expense was ₹588 crore up ₹443 crore reported in Q3 FY24

Operating margins stayed stable despite adversities created from forex losses, cost escalations; this profit was due to diversified business portfolios and effective cost management of the company.