Explained: How the Adani group gained from the coal crisis

Adani Enterprises’s strong June quarter was driven by surging global coal prices and the firm’s competitive edge in the sector.

Gautam Adani, the world’s fourth-richest person, has had a lot going for him lately. His group’s flagship firm, Adani Enterprises, is on an upward trajectory.

The company’s stock recently touched a record high of Rs 3,258.05, from trading at around Rs 500 in January 2021. It reported a 222% year-on-year surge in consolidated revenue in the April-June quarter. This was coupled with a 76.5% year-on-year increase in profit after tax, to almost Rs 469 crore.

The strong performance can be attributed to two of the firm’s businesses doing well. While its airport business contributed 2.9% of its gross revenue from …

Author

Aakriti Bhalla

Aakriti used to write at the intersection of public markets and large corporations. She joined The Morning Context from The Financial Express, where she was with the markets team, and before that had started out in business journalism as a correspondent with Reuters.

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aakriti@mailtmc.com

Delhi