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Bond Market News
Adani Enterprises Reports 117% Profit Rise
November 7, 2022
Adani Enterprises’ net profits rose 117% YoY to INR 4.6bn ($55.5mn) in the quarter ended September. Its revenues almost tripled to INR 381.8bn ($4.7bn) with several of its businesses including its airports and mining that performed. However its total expenses also rose 182% to INR 377.7bn ($4.6bn) amid its rapid expansion. It reported a debt-to-equity ratio of 0.32 in the quarter vs. 0.66 during the same period last year. Its net external debt however, rose 18% YoY to INR 335.2bn ($4.1bn). The chairman, Gautam Adani said that the group “yet again validated its standing as India’s most successful new business incubator as it continues to build on exciting ideas”.
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