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Adani Ports & SEZ Q2 profit surges 73% to Rs 1,059 crore on one-time tax benefit

Revenue for the quarter rose 8.1 per cent to Rs 2,821.60 crore from Rs 2,608.01 crore

ETMarkets.com|
Updated: Nov 11, 2019, 04.07 PM IST
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The company had posted a net of Rs 614.23 crore in the same quarter last year.
Adani Ports and Special Economic Zone on Monday said its consolidated net profit climbed 72.44 per cent year-on-year (YoY) to Rs 1,059.20 crore in the September quarter. The numbers were aided by Rs 319 crore one-time tax benefit.

The company had posted a net of Rs 614.23 crore in the same quarter last year.

Revenue for the quarter rose 8.1 per cent to Rs 2,821.60 crore from Rs 2,608.01 crore in the year-ago period.

“Though Q2 was subdued, container volume continues to be strong. We expect H2FY20 to be better and confident of achieving 224-228 MMT of cargo throughput in FY20,” said Karan Adani, Chief Executive Officer and Whole Time Director of APSEZ.

“We are confident of achieving 10 to 12 per cent CAGR cargo volume growth for the next few years. Automation and use of technology to handle cargo, sweating of enhanced capacity and better cargo mix will continue to drive margin expansion,” he said.

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