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Adani Group Posts Record Quarterly Profit In Boost To Liquidity

The profitability additionally buoyed the corporate’s liquidity.

Adani Group posted report revenue within the quarter that ended June on the again of its infrastructure and renewable power companies.

The ports-to-power conglomerate mentioned June quarterly earnings earlier than curiosity, tax, depreciation and amortization jumped 42% from the identical interval a yr in the past to Rs 235 billion ($2.8 billion), the very best the group has seen for a single quarter and almost as a lot because the revenue it earned for the total fiscal yr of 2019.

The robust efficiency posted by its infrastructure and utility companies throughout its flagship entity Adani Enterprises Ltd. in addition to its inexperienced power and cement arms “offers a excessive stage of stability and multi-decadal earnings predictability and visibility,” the corporate mentioned in an announcement.

The profitability additionally buoyed the corporate’s liquidity, with money steadiness on the finish of June up 4.2% from the tip of March, at 421 billion rupees.

The conglomerate can be in talks with worldwide banks to refinance loans taken out final yr to accumulate Ambuja Cements Ltd.

(This story has not been edited by NDTV employees and is auto-generated from a syndicated feed.)

(Disclaimer: New Delhi Tv is a subsidiary of AMG Media Networks Restricted, an Adani Group Firm.)

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