Adani Ports July-Sept net jumps 68% to Rs 573 cr

Adani Ports & SEZ (APSEZ), one of the largest port developers and a part of the Adani Group, has reported a consolidated net profit of Rs 573.5 crore for the quarter ended September, a 68 per cent jump from Rs 341.8 crore in the year-ago quarter.

The company posted a 32.5 per cent growth in its consolidated total income at Rs 1,865 crore for the second quarter of FY15, compared to Rs 1,407 crore a year ago.

According to Sudipta Bhattacharya, chief executive officer of APSEZ, the quarter grew on the back of expansion in major cargo categories.

"We had a robust quarter with growth on our major cargo categories and we continue to maintain our volume at high level performance in our port business. Our focus is on leveraging the benefits through our pan India presence and integrated logistics business," said Bhattacharya.

On a standalone basis, the company saw its net profit grow 52.28 per cent to Rs 529.37 crore for the second quarter of FY15, up from Rs 347.62 crore for the corresponding period last year.

On the other hand, APSEZ registered a standalone total income growth of 13.42 per cent for Rs 1,279.33 crore for the quarter ended September 30, 2014 against Rs 1,127.87 crore in the corresponding period last year.

Consolidated cargo handled by the company stood at 35.18 million tonnes in the second quarter of FY15, registering an increase of 25 per cent over the corresponding quarter last year.