ADANI TO PAY NO COMPANY TAX DESPITE $1BN REVENUE FROM QUEENSLAND COALMINE

Indian conglomerate offsets earnings from Carmichael mine to report $340.6m loss, after promising billions in taxes and royalties Get our breaking news email, free app or daily news podcast Indian conglomerate Adani… Financial accounts show the Carmichael thermal coal operations used large costs – including production and related party logistics expenses – to offset its $963.5m revenue in the 12 months to 31 March.

Climate crisis | The Guardian reports that indian conglomerate offsets earnings from Carmichael mine to report $340.6m loss, after promising billions in taxes and royalties Get our breaking news email, free app or daily news podcast Indian conglomerate Adani…

The report adds: Financial accounts show the Carmichael thermal coal operations used large costs – including production and related party logistics expenses – to offset its $963.5m revenue in the 12 months to 31 March.

This resulted in a recorded $340.6m loss for the year, erasing its tax bill.

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