Adani Ports consolidated net up 42 per cent

AGENCIES
Published Feb 7, 2019, 12:54 am IST
Updated Feb 7, 2019, 12:54 am IST
Adani Ports and Special Economic Zone (APSEZ) had clocked a consolidated net profit of Rs 1,001 crore for the third quarter.
The total income of the company grew to Rs 3,168.88 crore during the quarter as against Rs 2,924.85 crore a year ago.
 The total income of the company grew to Rs 3,168.88 crore during the quarter as against Rs 2,924.85 crore a year ago.

India’s largest port developer and logistics arm of the Adani Group, APSEZ on Wednesday reported a 41.75 per cent surge in its consolidated net profit to Rs 1,418.93 crore for the quarter ended December 31, 2018.

Adani Ports and Special Economic Zone (APSEZ) had clocked a consolidated net profit of Rs 1,001 crore for the third quarter, the company said in a regulatory filing. The total income of the company grew to Rs 3,168.88 crore during the quarter as against Rs 2,924.85 crore a year ago.

 

Its consolidated expenses increased to Rs 1,347.97 crore in the October-December quarter as against Rs 1,330.86 crore in the year-ago period.

Karan Adani, chief executive officer and whole time director of APSEZ said, “all types of cargo namely coal, container, crude and other bulk have shown double digit growth in nine month period (April-December) FY19. We will continue our strategy to diversify cargo mix and continuously add economic hinterland reach.”

APSEZ, said its 10 ports and terminals—Mundra, Dahej, Kan-dla and Hazira, Dhamra, Mormugao, Visakhapatnam and Kattupalli and Ennore — represent 24 per cent of the country’s total port capacity.

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