India's Adani Enterprises, the flagship company of the Adani Group, on Thursday reported its biggest quarterly profit slump in three years in the third quarter, as a fall in power demand weighed on its key coal trading division.

Profit also took a 3 billion rupees ($46.9 million) hit from its exit from joint venture with Singapore’s Wilmar. Read more at straitstimes.com.

Adani Enterprises Ltd. posted a sharp fall in its quarterly profit, weighed down by the coal trading unit and a foreign exchange loss, marking a tepid show in its first earnings since billionaire-chairman Gautam Adani was indicted in a US bribery probe in November.

India's Adani Enterprises, the flagship company of the Adani group, reported a slump in third-quarter profit on Thursday, impacted by performance at its key coal trading division. The company's consolidated net profit declined to 578.