The Adani Group, led by billionaire industrialist Gautam Adani, has achieved a remarkable 42% increase in operating profit (EBITDA) during the first quarter (April-June 2023) of the current financial year. Despite earlier challenges, Adani Group’s extensive portfolio spanning airports, power, and ports has exhibited robust growth in the June quarter. The group shared this news through a statement released on August 23.
Adani Group’s Q1 Performance
In this quarter, the Adani Group reported an operating profit of Rs 23,532 crore, nearly equivalent to the operating profit of Rs 24,780 crore recorded in FY2019. With a total of 10 companies listed on the stock market, including Adani Enterprises, Adani Ports & SEZ, Adani Green Energy, and more, the group’s net debt stands at Rs 18,689.7 crore after considering a cash balance of approximately Rs 42,115 crore.
Diverse Portfolio’s Strong Growth
Following allegations by US-based firm Hindenburg Research earlier this year, the Adani Group has concentrated on enhancing its business performance as part of its recovery strategy. This effort includes stake sales by promoters in 5 out of 10 listed companies, contributing to the rebound in the shares of Adani Group entities.
Focused Recovery Strategy
In the June quarter, the core infrastructure and utility business of the Adani Group marked an operating profit of Rs 20,233 crore, constituting 86% of the total profit before tax. Additionally, the operating profit from sectors like airports, green hydrogen, and others nearly doubled YoY to reach Rs 1,718 crore, making up 7% of the total operating profit. Furthermore, the company’s cement business experienced a 54% rise in operating profit, amounting to Rs 1,935 crore during the same period.
