Adani’s Queensland coal mining and rail businesses lost a combined $500 million over the past year after being weighed down by huge debt and interest repayments to other members of the Indian conglomerate.
The big losses in Australia come despite strong cashflow generation from the Carmichael mine near Clermont, and as the mine and railway’s ultimate parent in Singapore posted strong profits.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.