Adani group EBITDA jumps 42 pc in Q1
New Delhi: On the back of robust performance in infrastructure and utility segments, Adani Group has reported 42% year-on-year rise in its pre-tax profit at Rs 23,532 crore for April-June period (Q1) of financial year 2023-24.
"Infrastructure & utility segment generated EBITDA (earnings before interest, taxes, depreciation and amortization) of Rs 20,233 crore, accounting for 86% of portfolio-level EBITDA. This lends high degree of stability and multi-decadal visibility and predictability," billionaire Gautam Adani-led conglomerate said in a statement on Wednesday.
The cash balance of the group at the end of June quarter stood at Rs 42,115 crore, 4.2% higher than a quarter ago.
The group said that its robust portfolio performance was primarily driven by the renewable power business under Adani Green, infrastructure businesses under Adani Enterprises, and cement businesses under Adani Cement.
"Adani Green reported EBITDA of Rs 2,200 crore, a 67% rise Y-o-Y. This was on the back of an increase in operational capacity by 43% to 8,316 MW. The adjacent cement business also showed a strong operating performance because of cost optimization and improving synergies. EBITDA per tonne increased to Rs 1,253 from Rs 888 in June 22 quarter and Rs 1,079 in March 23 quarter. As a result, EBITDA of the cement business grew 54% Y-o-Y to Rs 1,935 crore," said Adani.
The group said that incubation under flagship Adani Enterprises continues to be a success story with airports, green hydrogen and other businesses now accounting for 7% of portfolio level EBITDA.
(With UNI Inputs)
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
Related Articles
CRR cut, AI ethics push, and SORR benchmark: Experts hail RBI’s pragmatic policy moves
Mumbai: The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5% while the cash reserve ratio (CRR) has been slashed by 50 basis points to 4 percent, media reports said.
JP Morgan gives 'overweight' rating to Adani Group bonds
Mumbai: US investment bank JP Morgan has assigned an 'overweight' rating to four bonds issued by the Adani Group, citing the group's capacity to scale and grow through internal cash flows, which reduces the likelihood of credit stress.
LG Electronics files DRPH with SEBI; IPO size expected to be over RS 15,000 cr
Mumbai: South Korean electronics giant LG Electronics has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Friday for the proposed public listing of its Indian business, according to a notification on the Bombay Stock Exchange (BSE).
De-dollarisation not on India's agenda; derisking domestic trade is: RBI Governor Shaktikanta Das
Mumbai: India has not initiated any steps towards de-dollarisation and is solely focused on mitigating risks to domestic trade from geopolitical uncertainties, Reserve Bank of India (RBI) Governor Shaktikanta Das clarified on Friday, media reports said.
Latest News
PM Modi wishes Mallikarjun Kharge 'speedy recovery' after pacemaker implant procedure
Pahalgam terror attack revealed India's true friends, says RSS chief Mohan Bhagwat hailing Op. Sindoor
India reduce West Indies to 90-5 at lunch on day 1 of first Test
Classical singer and Padma Vibhushan awardee Chhannulal Mishra dies at 89
