Feb 3 (Reuters) - India's Adani Enterprises reported a higher third-quarter profit on Tuesday as gains in its airport and renewable energy businesses offset weak demand in its core coal trading segment.
Consolidated net profit at the flagship of the Adani Group rose to 56.27 billion rupees ($624.2 million) in the quarter ended Dec. 31 from 578.3 million rupees a year earlier.
The result included a one-time gain of 56.32 billion rupees from a partial stake sale in its consumer goods venture with Singapore's Wilmar.
Profit before tax and exceptional items stood at 13 billion rupees.
Power generation in the third quarter was nearly flat from a year earlier as weak output in October and November was offset by a rebound in December on higher heating demand, Elara Capital analysts said.
The ports-to-power conglomerate's coal trading arm, its largest segment contributing nearly 30% of revenue, fell 22.5%. Coal-fired power, which once supplied about three-quarters of India's electricity, has been losing share as renewables expand.
Revenue from operations rose 8.6% to 248.20 billion rupees, helped by an 11% increase in the new energy business and 32.1% growth in airports. Pre-tax profit at the clean energy and airport units rose 12% to 7.50 billion rupees and 50% to 9.60 billion rupees, while coal trading profit fell 16.4% to 5.30 billion rupees.
($1 = 90.1500 Indian rupees)
(Reporting by Anuran Sadhu in Bengaluru; Editing by Nivedita Bhattacharjee)
