Adani Group Profit Jumps 55% In 2023-24, Eyes $90 Billion Investment
NDTV
Jefferies recommended 'Buy' on four group companies -- Adani Enterprises, Adani Ports & SEZ, Adani Energy Solutions and Ambuja Cements.
Adani group saw a 55 per cent profit surge in the fiscal year ended March 2024 as the apples-to-airport conglomerate is back on an expansion spree and eyeing a USD 90 billion capex over the next decade.
Emerging from a damning report of a US short seller, which hit market value of its listed companies, Adani group in 2023-24 (April 2023 to March 2024) fiscal focused on containing debt, reducing founder share pledge and consolidating business in core competencies.
This helped net profit surge to Rs 30,767 crore for the group's listed companies in the fiscal from Rs 19,833 crore a year ago, according to exchange data and analysts.
