MUMBAI: Billionaire Gautam Adani’s clean energy unit reported fourth-quarter profits surged as the conglomerate prioritizes renewable power amid its response to the impact of Hindenburg Research’s explosive report.
Adani Green Energy Ltd, India’s top renewables company, saw net income in the three months through March more than quadruple to 5.07 billion rupees ($62 million), according to a statement released late on Monday.
The business is “expediting the transition to sustainable energy and playing a pivotal role in fulfilling India’s obligations to a greener future,” Chairman Adani, who has been closely associated with Indian Prime Minister Narendra Modi, said in the statement.
