Adani Flagship Posts First Quarterly Loss in 17 Quarters
Adani Enterprises posted a 2.21 billion rupee loss for the March quarter. Higher depreciation from new assets and rising material costs weighed on the results.
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ADANI ENTERPRISES LTD reported a 2.21 billion rupee ($23.27 million) net loss for the quarter ended March. It is the first quarterly loss in 17 quarters for the India-based flagship conglomerate. Investors are weighing heavy infrastructure depreciation costs against a 20.3% rise in operational revenue.
