NEW DELHI: Adani Group on Monday said it has enough cash to cover more than 30 months of debt payments and that its businesses are firing on all cylinders.
Cash balance accounted for 24.8% of gross debt of Rs 2.41 lakh crore as of the end of June, up from 17.7% a year earlier, the group said in a statement. “24.77% of gross debt is in form of cash balances providing liquidity cover 30 months of debt servicing.”
The conglomerate saw June quarter pre-tax profit surge by 33% on back of strong performance by the core infrastructure business as also emerging businesses ranging from solar and wind manufacturing to airports.
“EBITDA (in April-June) surged by 32.87% YoY to reach Rs 22,570 crore, resulting in a trailing twelve-month (TTM) EBITDA of Rs 79,180 crore, marking a 45.13% rise over the corresponding TTM of the previous year,” the group said.