Adani Ports Q1 profit falls 9% to Rs 697 cr

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Mumbai, Aug 6 (IANS) Adani Ports and Special Economic Zone Limited (APSEZ) on Monday reported a consolidated net profit of Rs 697.40 crore for the quarter ended June 30, a decline of 9 per cent from the year-ago quarter.

It recorded a net profit of Rs 767.52 crore in the April-June quarter last fiscal, the company said in a BSE filing.

The total income of the port developer fell 8.6 per cent to Rs 2,703.86 crore in the first quarter of the current fiscal from Rs 2,959.63 crore in the corresponding quarter last year.

The company, in a separate statement, said there was no SEZ port led development income in the reported quarter compared with Rs 661 crore revenue earned in the previous year’s corresponding quarter.

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It also said that the company handled a record throughput as cargo volume grew by 9 per cent. Besides, Adani Ports has completed acquisition of Kattupalli port in Chennai in the June quarter.

–IANS

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