Hindenburg has no effect on Adani Group, EBITDA increased by 42 percent in the first quarter of the current financial year
Adani Group: Adani Group's EBITDA has increased by 42 percent year-on-year to Rs 23532 crore in the first quarter of the current financial year. This is the highest-ever EBITDA posted by the group. Adani Group said that the EBITDA of its flagship company Adani Enterprises has almost doubled during this period.
The Adani Group, led by billionaire businessman Gautam Adani, reported a 42 percent year-on-year increase in pre-tax profit in the first quarter of the current financial year. This information was given by the Adani Group on Wednesday.
A statement was issued by Adani Group saying that the group has registered an EBITDA of Rs 23,532 crore between April-June. This is the highest EBITDA figure ever posted by the company.
About 10 companies of the Adani Group are listed in the stock market. This includes companies like Adani Enterprises, Adani Power, Adani Green Energy, Adani Transmission, Adani Ports, and Adani Total Gas. Including the cash balance of Rs 42,115 crore with the companies, the group has a debt of Rs 18,689 crore.
On January 24, after the Hindenburg report, there was a big fall in the shares of Adani Group. Due to this, the group market cap was reduced by $ 150 billion. However, all these allegations were denied by Adani Group. In view of the concerns of the investors, the loan was also started to be returned.
After the Hindenburg report, the Adani group has found big investors like GQG, which has invested in five of the group's companies.
Adani Enterprises' EBITDA almost doubled to Rs 1,718 crore in the first quarter on an annual basis. This equates to 7 percent of the company's EBITDA.
Adani Green reported an EBITDA of Rs 2,200 crore, up 67 percent year-on-year. The operational capacity of the company has increased to 8,316 MW.
