Adani Ports’ net profit rises to Rs 1,179 cr

NEW DELHI: India's largest port developer and the logistics arm of Adani Group APSEZ posted a jump of 27 per cent in consolidated net profit to Rs 1,179 crore for the fourth quarter ended March, on back of higher income. Adani Ports and Special Economic Zone Limited (APSEZ) had clocked a net profit of Rs 928 crore in the corresponding quarter of FY16. The company's "profit after tax grew by 27 per cent from Rs 928 crore in the fourth quarter of FY16 to Rs 1,179 crore in the fourth quarter of FY17," the company said in a statement, reports PTI. Its consolidated revenue from operations registered a growth of 18 per cent to Rs 2,231 crore in the quarter under review as against Rs 1,899 crore in 2015-16. "Consolidated EBITDA increased by 32 per cent to Rs 1,638 crore in the fourth quarter of FY17 from Rs 1,238 crore in the fourth quarter of FY16," the company said.