India’s Adani Group said cash balances have improved and it sees no refinancing risks in the near term as the conglomerate took more steps to shore up its finances following a withering short seller attack last year.
The group’s Ebitda, or earnings before interest, tax, depreciation and amortization rose more than 60% to 194.75 billion rupees ($2.3 billion) in the third quarter ended Dec. 31 with a bulk of that coming from the transport, infrastructure and energy units of the conglomerate. The group reported an Ebitda of $9.5 billion for the nine months to Dec. 31.
