Adani Flagship’s Profit Jumps 84%, Plans $2.8 Billion Share Sale

Adani Enterprises Ltd., led by billionaire Gautam Adani, reported an 84% jump in quarterly profit on one-time gains due to sale of its unit and restructuring in another. It also approved a $2.8 billion rights issue.

Net income at the Adani Group’s flagship was 32 billion rupees ($361 million) for the quarter ended Sept. 30, compared with 17.4 billion rupees a year ago, according to an exchange filing Tuesday. There weren’t enough brokerages with profit estimates for Bloomberg to derive an average net income forecast.

It posted a one-off income of 35.8 billion rupees due to the ...