Adani Port register 26% increase in net profit in Q 3

Ahmedabad: Adani Ports and Special Economic Zone Limited (APSEZ), India’s largest port developer and the logistics arm of Adani Group has registered a consolidated net profit of Rs 848 crores in the third quarter of the current fiscal which is 26% higher than that of the corresponding period of the last year.

According to the Q 3 consolidated financial performance of the company declared today its consolidated operating Income also registered a growth of 32 % from Rs.1696 cr in Q3FY16 to Rs.2236 cr in Q3FY17.

Profit after Tax grew by 26 % from Rs. 675 cr in Q3FY16 to 848 cr in Q3FY17.

In the third quarter this year APSEZ handled Cargo of 41 MMT, a growth of 8 % Y o Y.

Reacting on the results Karan Adani, Chief Executive Officer of APSEZ said, “Our strategy to diversify our cargo mix and focus on high value cargo continues to yield positive results. Like last quarter, the continued outperformance in cargo volumes is backed by healthy growth in our newer ports namely Hazira, Dhamra and Kattupalli. Operational efficiencies and our efforts to change the mix of bulk cargo beyond coal has resulted in all-round growth in our financial numbers.”

DeshGujarat