Adani Ports Q2 Results: Consolidated net profit up 32% YoY at Rs 1,394 crore

NEW DELHI: Adani Ports and Special Economic Zone Ltd on Tuesday posted 31.57 per cent year-on-year growth in consolidated net profit at Rs 1,393.69 crore for the quarter ended September 30. It had posted a profit of Rs 1,059.20 crore for the corresponding quarter last year.

Revenue from operations grew around 3 per cent YoY to Rs 2,902.52 crore.

The company witnessed 300 basis points growth in the overall cargo market share to 24 per cent, as compared to 21 per cent in Q1 FY21, Adani Ports said in a release.

EBITDA of the company increased by 136 per cent YoY to Rs 2,229 crore, according to ET NOW.

Adani Ports and SEZ announced its results post market hours. Earlier, shares of the company closed 1.02 per cent lower at Rs 353.60. On the other hand, the benchmark BSE Sensex closed 1.27 per cent higher at 40,261.

“APSEZ has proven the utility nature of its portfolio of assets by increasing the market share in India to 24 per cent in overall cargo. With economy reopening in stages, APSEZ has returned to growth trajectory registering a cargo volume growth of 36 per cent on a QoQ basis. We continue to increase our free cash generation, in H1 FY21 cash flow from operations after adjusting for working capital changes, capex and net interest cost, stands at Rs 2,884 crore," company CEO Karan Adani said.