Adani Enterprises (AEL), the parent company for the group’s airports and renewable energy businesses, is covered for 12 months of payments amid the lockdown-related economic disruptions, the management said on Wednesday. “From a business and financial point of view it becomes important for us to deal with the liquidity situation that an event like this brings up. We have risk management plans in place… we are fully covered from a liquidity perspective,” said AEL chief financial officer Jugeshinder Singh. The overall aggregate debt of the company is Rs 1.3 lakh crore, Singh added.
AEL’s consolidated net profit for the March quarter fell 78.4% year-on-year (y-o-y) to Rs 61.21 crore. The fall in net profit was capped by the Rs 895.84-crore other comprehensive income during the March quarter. Revenues from operations grew marginally by 1.5% y-o-y to Rs 13,428.83 crore during the quarter under review. Net profit for the full financial year 2019-20 grew 59% to Rs 1,138 crore.
