New Delhi, Aug 23 : 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
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