<p>India's Adani Enterprises, the flagship company of the Adani Group, reported a decline in first-quarter profit on Thursday as a drop in coal-fired power demand weighed on its mainstay coal trading division, sending its shares down 4 per cent.</p><p>The company's consolidated net profit stood at Rs 735 crore (about $84 million) in the quarter ended June 30, down from Rs 1,455 crore a year ago.</p><p>Revenue from operations fell 14 per cent to Rs 21,961 crore, hurt by a 27 per cent decline in its coal trading unit.</p>.Hyundai Q1 net profit dips 8 per cent at Rs 1,369 cr. <p>The ports-to-power conglomerate's coal trading business is its biggest segment, contributing to 36 per cent of its overall revenue. It saw continued weakness in the reporting quarter as India registered lower coal-fired electricity demand.</p><p>India's overall power output also declined amid a milder summer, earlier-than-expected monsoon and slowing economic activity, leading to a decline in coal demand.</p><p>The conglomerate has been expanding its new energy business, which includes solar manufacturing and wind turbines. However, the segment registered an 11 per cent dip in revenue, during the quarter.</p><p>The clean energy segment's pre-tax profit dropped about 34 per cent to Rs 982 crore, while the coal trading division logged a 45 per cent decline Rs 485 crore.</p><p>Shares of the company fell as much as 3.8 per cent to Rs 2,436.60 post results. They grew 13 per cent in the April-June period.</p>
<p>India's Adani Enterprises, the flagship company of the Adani Group, reported a decline in first-quarter profit on Thursday as a drop in coal-fired power demand weighed on its mainstay coal trading division, sending its shares down 4 per cent.</p><p>The company's consolidated net profit stood at Rs 735 crore (about $84 million) in the quarter ended June 30, down from Rs 1,455 crore a year ago.</p><p>Revenue from operations fell 14 per cent to Rs 21,961 crore, hurt by a 27 per cent decline in its coal trading unit.</p>.Hyundai Q1 net profit dips 8 per cent at Rs 1,369 cr. <p>The ports-to-power conglomerate's coal trading business is its biggest segment, contributing to 36 per cent of its overall revenue. It saw continued weakness in the reporting quarter as India registered lower coal-fired electricity demand.</p><p>India's overall power output also declined amid a milder summer, earlier-than-expected monsoon and slowing economic activity, leading to a decline in coal demand.</p><p>The conglomerate has been expanding its new energy business, which includes solar manufacturing and wind turbines. However, the segment registered an 11 per cent dip in revenue, during the quarter.</p><p>The clean energy segment's pre-tax profit dropped about 34 per cent to Rs 982 crore, while the coal trading division logged a 45 per cent decline Rs 485 crore.</p><p>Shares of the company fell as much as 3.8 per cent to Rs 2,436.60 post results. They grew 13 per cent in the April-June period.</p>