Adani Group touts cash, says enough liquidity for 30 months debt payment ...Middle East

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Adani Group touts cash, says enough liquidity for 30 months debt payment
source : Business Standard ( Middle East ) () 64
Billionaire Gautam Adani's port-to-energy conglomerate on Monday said it has enough cash to cover more than 30 months of debt payments and that its businesses are firing on all cylinders. Cash balance accounted for 24.8 per cent of gross debt of Rs 2.41 lakh crore as of the end of June, up from 17.7 per cent a year earlier, the group said in a statement. "24.77 per cent of gross debt is in form of cash balances providing liquidity cover 30 months of debt servicing." The conglomerate saw June quarter pre-tax profit surge by 33 per cent on back of strong performance by the core infrastructure business as also emerging businesses ranging from solar and wind manufacturing to airports. "EBITDA (i

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