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

Representational image

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.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel