Adani group posts EBITDA growth of 42% in Q1 to Rs 23,532 crore

Adani group portfolio delivered EBITDA growth of 42 per cent on-year to Rs 23,532 crore in Q1FY24 with businesses across segments ranging from airports and sea ports registered good growth, the company said. Airports, green hydrogen and other businesses under the flagship incubator saw their profits almost double year-on-year. With EBITDA of Rs 1718 crore, these businesses contributed 7 per cent to the portfolio EBITDA.

The core infrastructure and utility platform, which generates stable and assured cash flows, accounted for 86 per cent of the total portfolio EBITDA and stood at Rs 20,233 crore. “This gives a high level of stability and multi-decadal earnings predictability and visibility. The robust profits have resulted in the portfolio gaining a very strong liquidity position,” it said. Adani group’s cash balance at the end of June 2023 was Rs 42,115 crore, up 4.2 per cent from a quarter ago.