MUMBAI: Adani group posted record profit in the quarter ended June on the back of its infrastructure and renewable energy businesses, bolstering the finances of Gautam Adani’s business empire as it seeks to shore up investor confidence and resume fundraising months after a damaging attack from a shortseller.
The ports-to-power conglomerate said June quarterly earnings before interest, tax, depreciation and amortization jumped 42% from the same period a year ago to 235 billion rupees ($2.8 billion), the highest the group has seen for a single quarter and nearly as much as the profit it earned for the full fiscal year of 2019.
