| Date: |
11-11-2014 |
| Subject: |
Adani Ports Q2 Net jumps 68% at Rs 573.5 crore |
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MUMBAI: Adani Ports and Special Economic Zone reported a consolidated profit of Rs. 573.52 crore for the quarter ended September, compared with Rs. 341.83 crore during the same quarter last year.
Analysts, on an average, were expecting earnings of Rs. 524.08 crore on revenue of Rs. 1447.87 crore, according to a poll conducted by Bloomberg. Sales at the Gautam Adani-led company grew 38% to Rs. 1444.76 crore.
On standalone basis, the company reported a net profit of Rs. 529.37 crore, up 52% from the corresponding quarter, while sales rose 7% to Rs. 849.50 crore.
Adani Ports handled 35.18 million tonnes of cargo on consolidated basis during the quarter, up 25% from the same quarter last year. Consolidated cargo includes volumes from flagship Mundra port and its ports at Hazira, Dahej and Dhamra.
"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 CEO Sudipta Bhattacharya.
Source : economictimes.indiatimes.com
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