New Delhi :Pre-tax profit of Adani Group companies in the last financial year (2023-24) EBITDA The record has increased by 45 percent to Rs 82,917 crore (about $ 10 billion). The group gave this information in a statement on Sunday. Recovering from the losses caused to its listed companies by the report of American short seller Hindenburg Adani Group focused on controlling debt, reducing pledged shares and strengthening business in core areas in 2023-24. 84 per cent of pre-tax profit comes from ‘core fundamental’ businesses.
Adani Group said in the statement that cash profit or fund flow from operations FFO56,828 crore, a growth of 51 per cent year-on-year, driven by a disciplined investment strategy delivering high conversion. The robust asset base built over three decades supporting robust critical infrastructure is Rs 4,78,137 crore ($57 billion). This asset base serves a consumer base of 350 million users.
The group said, “From FY 2018-19 to FY 2023-24, the gross assets of the Adani portfolio grew at a rate of 25 per cent year-on-year, while the profit before tax grew by 27 per cent. In comparison, net debt grew by just 14 per cent. This reflects the group’s exceptional ability to deploy capital efficiently.
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2024-06-02 21:38:03