8,660.2518.8
Stock Analysis, IPO, Mutual Funds, Bonds & More

Adani Ports and SEZ plans Capex of Rs 4,000 crore in FY21

The amount is apart from what it plans to spend on acquisitions, Karan Adani, said in a post earnings conference call. Adani Ports last month announced the purchase of a 75% stake in Krishnapatnam Port for Rs 5,520 crore.

, ET Bureau|
Last Updated: Feb 04, 2020, 08.18 PM IST
0Comments
AFP
Port-
Earlier in the day, Adani Ports said its net profit for October-December fell 2% on year to Rs 1,384 crore.
MUMBAI: Adani Ports and SEZ aims to spend Rs 4,000 crore as capital expenditure on its growth and expansion in FY21, its CEO said Tuesday.

The amount is apart from what it plans to spend on acquisitions, Karan Adani, said in a post earnings conference call.

Adani Ports last month announced the purchase of a 75% stake in Krishnapatnam Port for Rs 5,520 crore. Adani said the deal should be completed by the first quarter of FY21. Adani also said that depending on the decision from India's bankruptcy court, it should start on the Rs 650 crore resolution plan on the bankrupt Dighi port also in the first quarter. Adani Logistics, an arm of Adani Ports, is also buying the promoters 40.25% stake in Snowman Logistics for Rs 296 crore.

Earlier in the day, Adani Ports said its net profit for October-December fell 2% on year to Rs 1,384 crore on the back of a one time foreign exchange loss. Revenue grew 18% to Rs 3,336 crore.
Comments
Add Your Comments
Commenting feature is disabled in your country/region.

Other useful Links


Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service