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Adani Ports Profit Quadruples To Rs 1,287.81 In March Quarter

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Adani Ports Profit Quadruples To Rs 1,287.81 In March Quarter

Adani Ports Q4 Results: Adani Ports reported a quadruple jump innet profit to Rs 1,287.81 crore

Port-to-energy conglomerate Adani Ports and Special Economic Zones or APSEZ reported a 285 per  cent growth – a quadruple jump in net profit at Rs 1,287.81 crore in the January-March quarter of the financial year 2020-21, compared to Rs 334.39 in the corresponding quarter last year. The country’s largest private multi-port operator reported a 24 per cent rise in the operating revenue to Rs 3,607.90 crore in the March quarter, compared to Rs 2,921.19 crore in the same quarter last year. (AlsoRead: Adani Ports Says Could Abandon Myanmar Project )

According to a regulatory filing by the company to the BSE today, Adani Ports handled the highest ever container volume of 7.2 million twenty-foot equivalent units (TEU) throughout the year. It achieved a market share of 41 per cent and registered a gain of five per cent. The Mundra port continues to be the largest container handling port in the country. The Mundra port handled 5.66 million twenty-foot equivalent units, which is around one million twenty-foot equivalent units more than the Jawaharlal Nehru Port Trust.

According to the multinational conglomerate, the surge in container growth is attributed to the strategy of partnering with the top global ship liners through joint ventures and the acquisition of container handling
ports such as Ennore and Krishnapatnam.

Ahead of declaring its fourth quarter for fiscal 2020-21 results, Adani Ports gained around two per cent during the session today. On Tuesday, shares of Adani Ports and Special Economic Zones settled 0.99 per cent higher at Rs 768.80 apiece on the BSE.

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