Adani Enterprises defers capex plans by six months amid Covid-19 lockdown
Amid the lockdown due to the Covid-19 pandemic, Adani Enterprises Ltd (AEL) on Wednesday said it has deferred its capital expenditure (capex) plans by six months for fiscal 2020-21. The company has laid out a capex of Rs 10,000 crore for FY 2020-21.
Similarly, the company’s plans around its new airports business is also delayed by six months though the size of capex may not change, said AEL’s chief financial officer Jugeshinder Singh in a post-earnings call.
The flagship company of the Adani Group posted a consolidated loss before tax of Rs 13.89 crore for the fourth quarter ended March 30, 2020, according to its filing with the stock exchanges.
