Adani Group Reports Strong Financial Performance

The Adani Group announced it has sufficient cash reserves to cover over 30 months of debt payments, with cash accounting for 24.8% of its gross debt of ₹2.41 lakh crore as of June. The conglomerate experienced a 33% increase in pre-tax profit for the April-June quarter, driven by strong performance in its core infrastructure and emerging sectors such as solar and wind manufacturing. EBITDA for the quarter surged by 32.87% year-on-year, reaching ₹22,570 crore, contributing to a trailing twelve-month EBITDA increase of 45.13%. The group aims to raise between ₹100 billion and ₹120 billion through a share sale to bolster investor confidence following scrutiny from allegations of fraud by Hindenburg Research. Key subsidiaries like Adani Green Energy and Adani Power reported significant profit growth, reflecting the overall resilience of the group's operations.