Billionaire industrialist Gautam Adani’s Adani Group works in sectors ranging from ports, airports to FMCG, cement and renewable energy in India. Meanwhile, figures related to the earnings of his group have come out. Adani Group’s profit has increased by 55 percent in a year. Due to this, Adani Group is now going to invest in business on a large scale.
Adan Group has earned a net profit of Rs 30,767 crore in the financial year running from April 2023 to March 2024. Whereas in the financial year 2022-23, the group’s profit was Rs 19,833 crore. In this way the group has made tremendous profits. This has happened when the company suffered a major setback in the stock market after the report of Hindenburg Research in January 2023, as well as faced a cash and image crisis.
This is how Adani Group came into profit
After the report of Hindenburg Research, Adani Group, which was facing a credit crisis for several months, worked to control the debt of its listed companies in 2023-24. Apart from this, attention was also paid to reducing the pledged shares of the promoters and strengthening the business. The advantage of this was that on one hand the credit of Adani Group improved, it easily got funding from abroad.
Will invest $ 90 billion
Adani Group says that it is going to make a capital expenditure of $90 billion in the next decade. It has made a complete plan for this. Despite the company’s revenue decreasing during the financial year 2023-24, its income before tax (EBITDA) has increased by 40 percent to Rs 66,244 crore. The total loan of the group’s listed companies remained stable at Rs 2.2 lakh crore in the financial year 2023-24, which was Rs 2.3 lakh crore earlier.
