Adani Ports & SEZ Q3 net profit up 16%

Adani Ports and Special Economic Zone Limited (APSEZ) reported a 16.22% increase in its consolidated profit to Rs 1,576.53 crore for the third quarter ended on December 31, 2020.

The country's largest integrated logistics player had clocked a consolidated profit of Rs 1,356.43 crore in the corresponding period a year earlier, the company said in a regulatory filing to the BSE.

Its total consolidated income increased to Rs 4,274.79 crore in the third quarter from Rs 3,830.43 crore in the year-ago period. The company's total expenses during the quarter under review increased to Rs 2,258.62 crore, compared to Rs 2,091.40 crore in the year-ago period.

Karan Adani, Chief Executive Officer and Whole

Time Director of APSEZ in a statement said, "The strong and lasting recovery at APSEZ has been the cornerstone of our journey in the recent past. It's a proven certitude that our business now operates closer to a pure-play utility. Our portfolio of assets, increasing market share in India, and preeminence of our network with leadership positions have an unparalleled value proposition."