Adani Enterprises Ltd., controlled by billionaire Gautam Adani, reported a return to profit in the second quarter ending September 30, driven by the scaling up of newer business segments such as airports and data centres. The company posted a net income of 14.9 billion rupees ($157 million), marking a significant recovery from a loss of 11.6 billion rupees reported in the previous quarter. That prior loss had been attributed in part to costs related to the settlement of U.S. legal cases.

Despite the positive turnaround, the quarterly profit was 55 percent lower than the same period last year. Revenue increased 75 percent year-on-year to 372.2 billion rupees, while expenses rose 71 percent to 360.2 billion rupees, according to an exchange filing disclosed on Wednesday. Following the earnings announcement, shares of Adani Enterprises declined slightly by 0.4 percent, in line with broader market trends reflected in the S&P BSE Sensex.

The company’s return to profitability may help ease investor concerns about funding needs for ongoing expansion efforts. Adani Enterprises is increasingly relying on sectors such as airports, data centres, roads, and clean-energy ventures as key contributors to its profit mix. These newer business lines are approaching what analysts describe as an earnings inflection point, where they begin generating consistent positive cash flow.

As Adani Enterprises diversifies its portfolio beyond traditional commodities and infrastructure, its recent financial results suggest the group is progressing toward stabilizing its overall earnings while expanding into high-growth areas.