Adani Ports Q1: Net profit jumps 47.5%

New Delhi: Adani Ports and SEZ (APSEZ), India’s largest private port developer, reported a 47.5% rise in net profit to ₹1028.67 crore in the June 2019 quarter, from ₹697.40 in the year-ago period, boosted by an increase in cargo carried and stable margins. Consolidated revenue rose 16% year-on-year to ₹2794 crore, while the company’s EBITDA rose similarly to ₹1843 crore.

APSEZ handled cargo throughput of 57 million tonnes (mt) in the quarter, registering an 18% growth over the previous period. While the flagship port at Mundra grew by 16%, Hazira grew by 20%, Kattupalli by 16% and Dhamra by 43%. Terminals at major ports namely Tuna, Visakhapatnam, Goa and Ennore registered 35% cargo volume growth, the company said in a press release.