Ahmedabad: Registering record high cargo volumes through the first half of the fiscal, Adani Ports and Special Economic Zone Ltd (APSEZ) on Tuesday reported a 65% rise in consolidated net profit at Rs 1,738 crore for the quarter ended September 2022. The company had posted a consolidated net profit of Rs 1,050 crore in the year-ago period, APSEZ said in a filing to BSE.
Cargo volume growth, improved realization, and addition of OSL enabled port revenues to shoot up by 25% to Rs 8,967 crore. The consolidated revenue grew by 15% year-on-year to Rs 10,269 crore, despite the Rs 555 crore decline in revenue from the SEZ business segment. Karan Adani, CEO and wholetime director, APSEZ, said, “The first half of FY23 is a record half-year in APSEZ’s history, with the highest ever cargo volume, revenue and EBITDA. Extending this strong performance into October, APSEZ achieved 200 MMT of cargo through-put within seven months, another new milestone.”
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