Adani Ports and Special Economic Zone Limited (APSEZ), reported 77 per cent jump in net profit for the April-June quarter of FY22 on the back of higher cargo volumes and rising market share.
The company reported Q1 FY22 net profit of Rs 1,342 crore as compared to Rs 758 crore in the last fiscal. Its consolidated revenue also grew to Rs 4,557 crore as compared to Rs 2,293 crore in the same period of previous year, registering a growth of 99 per cent.
Our strategy of establishing a network of world-class ports to balance cargo across the east and west coast has been tracking precisely as per plan
Mr Karan Adani , CEO, APSEZ
“The results are a validation of the strong fundamentals of the APSEZ strategy leading to a continued gain of market share as the company transforms into a full-fledged pan-India Ports & Logistics platform,” Mr. Karan Adani, Chief Executive Officer and Whole Time Director of APSEZ.
APSEZ handled 76 MMT of cargo in Q1 FY22 compared to 41 MMT in Q1 FY21, registering a growth of 83 per cent compared to 33 per cent growth registered by All India cargo.