Adani Ports Raises First-Half Revenue 21%; Adani Enterprises Profit Plunges 92%
Key Facts
Adani Ports and Adani Enterprises reported results for the first half of fiscal year 2026-2027, revealing divergent profit trends within the group. Adani Ports’ consolidated revenue rose 21% to 22,161 crore rupees, and its net profit increased 14% to 7,332 crore, according to a company statement. By contrast, profit after tax attributable to Adani Enterprises’ owners fell 92% to 332 crore rupees, despite a 62% rise in total income to 71,569 crore. Enterprises said the profit comparison was affected by a one-off settlement of 2,644 crore rupees in the first quarter. The results reflect growth in port operations and improved operating metrics at Enterprises, alongside the impact of an exceptional item on its reported net profit.
In the second quarter, Adani Ports’ revenue rose 24% to 11,340 crore rupees, compared with 9,167 crore in the year-earlier period, while net profit increased 18% to 3,682 crore from 3,120 crore. Adani Enterprises recorded total income of 38,023 crore rupees, up 74% year on year. Its earnings before interest, taxes, depreciation and amortisation rose 62% to 6,316 crore, while profit before tax from continuing operations climbed 146% to 2,002 crore. But profit after tax attributable to owners fell 55% to 1,492 crore rupees. The figures show a widening gap between growth in income and operating profit on one hand and bottom-line profit attributable to owners on the other.
Adani Ports attributed its expansion to the performance of its international ports, logistics and marine businesses. International ports revenue rose 71% in the second quarter, while logistics revenue increased 21% and marine revenue grew 57% year on year. Domestic ports’ earnings before interest, taxes, depreciation and amortisation margin was 72.5%, while international ports posted a record margin of 47.7%, with operating profit rising 3.4 times. Cargo volume at domestic ports reached 118 million tonnes during the quarter, and the company held 27.3% of India’s cargo market and 44.4% of its container market. These metrics highlight the contribution of the different businesses to the company’s growth during the period.
At Adani Enterprises, consolidated earnings before interest, taxes, depreciation and amortisation reached 11,958 crore rupees in the first half, up 56%, while profit before tax from continuing operations rose 45% to 3,297 crore. The company attributed part of the improvement to increased production capacity at its copper plant, which generated operating profit of 2,033 crore rupees. Copper sales surged to 145.3 thousand tonnes, from 23.3 thousand tonnes a year earlier, a 5.2-fold increase. In the ANIL new energy ecosystem, income rose 5% to 7,606 crore rupees. Airports revenue increased 28% to 7,549 crore, and operating profit grew 52% to 3,275 crore, but the business posted a loss before tax of 484 crore rupees.
The company said a one-off OFAC settlement of 2,644 crore rupees during the first quarter appeared in the first-half results as a negative exceptional item of the same amount. This followed a positive exceptional item of 3,583 crore rupees in the corresponding period of the previous fiscal year. Enterprises said operating profit and profit before tax from continuing operations reflected stronger growth than the net profit after tax figure. In the airports business, the company said capitalisation of Navi Mumbai airport increased depreciation in the first half. This places the decline in net profit in the context of differing exceptional items between the two periods, while results across the businesses remained mixed.
On financing, Adani Ports said operating cash flow reached 13,327 crore rupees in the first half and funded investments of 10,521 crore. Net debt to operating profit was 1.8 times, while the cash balance reached 12,502 crore rupees. The company raised its fiscal 2026-2027 revenue guidance by 1,000 crore to a range of 44,000–46,000 crore rupees. It also raised operating profit guidance by the same amount to 26,000–27,000 crore and increased capital expenditure guidance by 3,000 crore to 15,000–17,000 crore. The investor relations page lists January 28, 2027, as the provisional date for the third-quarter results, subject to change.
In an update issued on October 28, 2026, Adani Enterprises said production capacity on its solar module line had risen to 10 gigawatts after 4.3 gigawatts came online in September. It added that construction of an additional 6-gigawatt cell line was progressing on schedule. AdaniConneX also announced that it had secured an order for a 240-megawatt hyperscale data centre in Navi Mumbai. The order takes cumulative contracted capacity to more than 1.2 gigawatts. Group Chairman Gautam Adani said the company’s investments in integrated energy, airports and AI ecosystems were “recent examples” of delivering on large and complex commitments at scale.