Adani Ports & SEZ posted a two per cent year-on-year (YoY) drop in net profit for the quarter ended June 30, 2017, on a standalone basis, even as its revenues swelled by 71 per cent for the period.
APSEZ posted a net profit of Rs 590.71 crore in Q1FY18, down two per cent. Its revenue from operations grew by 71 per cent to Rs 1,805.7 crore. Its operating expenses increased from Rs 190 crore in Q1FY17 to Rs 589 crore in the quarter.
On a consolidated basis, revenues grew by 50 per cent YoY to Rs 2,754.14 crore while its net profit dipped by 13.6 per cent to Rs 710.25 crore. Consolidated EBITDA grew 37 per cent YoY from Rs 1,170 crore in Q1FY17 to Rs 1,598 crore.
The profit after tax is lower due to higher tax incidence at Mundra which is now out of tax holiday period.