MUMBAI: Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest port developer, posted a 14% increase in consolidated net profit for the three months ended.
Net profit increased to Rs.512 crore from Rs.450 crore in the year-ago period, the company said in statement. Net sales for the reporting quarter increased 49% to Rs.1,533.68 crore from Rs.1,026.4 crore a year ago.
The company handled 39 million tonnes (mt) of cargo in the December quarter, an increase of 33% over last year. Adani ports handled 20 mt of cargo at its Mundra port in the reporting quarter, continuing its leadership as the single largest commercial port in India, it said.
The results include those of The Dhamra Port Company Ltd, which APSEZ acquired in June, the firm said. “We are pleased that our performance across all ports continues to be robust therefore reflecting the strength of our pan India strategy,” said Gautam Adani, chairman, Adani Group.
At 1.47 pm, shares of Adani Ports fell 0.7% to Rs.342.25 on BSE, while the exchange’s benchmark Sensex fell 0.18% to 29,519.03 points.
