Adani Enterprises Ltd, the flagship of the Adani Group, reported a sharp 50% year-on-year drop in consolidated net profit to ₹734 crore for the first quarter of FY26. Despite a decline in revenue and EBITDA, growth in incubating businesses, particularly airports and clean energy, showcased operational resilience and strategic advancement.
Adani Enterprises Ltd (AEL), headquartered in Ahmedabad, Gujarat, operates as the flagship company of the Adani Group. The company functions as an infrastructure incubator, with diversified businesses in sectors including airports, roads, green energy, logistics, and data centers. Through its portfolio, Adani Enterprises develops next-generation assets vital to India’s infrastructure development.
In the quarter ended June 2025 (Q1FY26), Adani Enterprises reported a consolidated profit after tax of ₹734 crore, marking a 50% decline from ₹1,458 crore in the corresponding quarter of FY25. Revenue also contracted by 14% YoY to ₹22,437 crore, compared to ₹26,067 crore in Q1FY25.
EBITDA dropped 12% year-on-year to ₹3,786 crore. However, the EBITDA contribution from the company’s incubating businesses rose 5% YoY to ₹2,800 crore, accounting for 74% of the total EBITDA—a testament to the company’s shift toward scalable high-growth infrastructure platforms.
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Among the key growth drivers was Adani Airports Holdings Ltd, which reported a 61% YoY surge in EBITDA. The business also secured $1.75 billion in funding through ECBs and project finance across six operational airports and Mumbai International Airport Ltd (MIAL). Notably, Mumbai Airport received its new tariff order for FY25–FY29, effective May 16, 2025. The quarter saw the addition of seven new routes and two new airline partners.
Adani New Industries Ltd, the group’s green energy arm, commissioned India’s first off-grid 5 MW Green Hydrogen pilot plant. Its wind turbine division received its first external order of 300 MW for the 3.3 MW WTG platform, with full-scale production underway. Construction is progressing for an additional 6 GW solar module capacity.
Meanwhile, AdaniConnex Pvt Ltd, the company’s data center vertical, reported steady progress on multiple sites. MEP works at its Noida facility are ongoing, Phase II at Hyderabad is 72% complete, and Phase I at Pune has crossed 85%.
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In the roads segment, Adani Road Transport Ltd made significant progress with three Hybrid Annuity Model (HAM) projects nearing completion, each over 90% done. Construction on the massive Ganga Expressway project surpassed the 85% completion mark.
Chairman Gautam Adani emphasized that these developments reaffirm the company’s commitment to building strategically important, globally benchmarked infrastructure assets. He highlighted upcoming projects like the Navi Mumbai International Airport, the Copper Plant, and the Ganga Expressway as key components of Adani’s long-term infrastructure vision.
Despite the earnings pressure in Q1FY26, Adani Enterprises’ diverse portfolio and forward-looking investments underline its resilience and continuing role in shaping India’s infrastructure landscape.
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