Adani Ports Q3 net zooms Rs. 1,576 cr
It had clocked a consolidated profit of Rs 1,356.43 crore in the corresponding period a year earlier
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New Delhi: Adani Ports and Special Economic Zone Limited (APSEZ) on Tuesday reported a 16.22 per cent increase in its consolidated profit to Rs 1,576.53 crore for the third quarter ended on December 31, 2020.
The country's largest integrated logistics player had clocked a consolidated profit of Rs 1,356.43 crore in the corresponding period a year earlier, the company said in a regulatory filing to the BSE.
Its total consolidated income increased to Rs 4,274.79 crore for the third quarter, as against Rs 3,830.43 crore in the year-ago period. The company's total expenses during the quarter under review increased to Rs 2,258.62 crore, compared to Rs 2,091.40 crore in the year-ago period.
Karan Adani, Chief Executive Officer and Whole Time Director of APSEZ said,
"The strong and lasting recovery at APSEZ has been the cornerstone of our journey in the recent past. It's a proven certitude that our business now operates closer to a pure-play utility. Our portfolio of assets, increasing market share in India, and preeminence of our network with leadership positions have an unparalleled value proposition."
He said the team at APSEZ continues to innovate and establish operational excellence as the key differentiator, thus improving margins. "For instance, at KPCL, which was acquired in October, we have improved the EBIDTA margin from 55 per cent to 71 per cent. APSEZ is well on course to achieve 500 MMT (metric million tonne) of cargo throughput by FY25," he said.
