AhmedabadCopper now supplies nearly 40% of Adani Enterprises’ revenue.
India’s Adani Enterprises returned to profit after losses in January-March and April-June.
Its Gujarat smelter, the world’s largest single-site copper plant, lifted copper sales to Rs 14,772 crore in July-September.
Net profit of Rs 1,492 crore is still 55% below last year, which included a Rs 3,583 crore stake-sale gain.
Operating margin slipped to 14.8% from 15.56% a year earlier as expenses rose 71%.
How each outlet framed it
- Nikkei Asia
- foregrounds copper smelting as the profit driver after two quarters of losses, citing the 26.44bn rupee US sanctions-probe settlement
- TimesNow
- frames the result against a year-ago gain of Rs 3,583 crore, showing a 55% profit drop, and says copper revenue jumped multifold to Rs 14,772 crore
Sources: TimesNow, Nikkei Asia