Adani Ports fourth quarter profit surges 288% to Rs 1,321 crore

Adani Ports and Special Economic Zone Limited (APSEZ) on Tuesday reported a 288 per cent jump in consolidated net profit to Rs 1,321crore for the fourth quarter ended March 31, 2021.

The country's largest integrated logistics player had clocked a consolidated net profit of Rs 340.21 crore in the corresponding period of the previous fiscal, it said in a BSE filing.

Consolidated total income increased to Rs 4,072.42 crore for the fourth quarter as against Rs 3,360.17 crore in the year-ago period.

Total expenses declined to Rs 2,526.91 crore against Rs 3,099.18 crore.

"FY21 has been a transformational year for APSEZ. Some of the key decisions we took this year have set the foundation for the coming decade. Our customer centric approach has yielded good result for us as our market share increased by 4 per cent on a pan-India basis," said Karan Adani, chief executive officer and whole time director of APSEZ.

Mundra port, which is the largest commercial port in the country, this year also became India's largest container port, surpassing JNPT by a big leap, he added.

"APSEZ is well on its course to become a truly integrated transport and logistics utility and achieve 500 MMT of cargo throughput and ROCE (return on capital employed) to be in excess of 20 per cent byFY25," he said.