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HomeMarketResultsAdani Ports SEZ Sept quarter profit jumps 62% as cargo volumes surge

Adani Ports SEZ Sept quarter profit jumps 62% as cargo volumes surge

and Particular Financial Zone, India’s largest personal operator of ports, reported a 69% surge in quarterly revenue on Tuesday, pushed by sturdy cargo volumes.

The corporate’s consolidated revenue for the quarter-ended Sept. 30 rose to 16.77 billion Indian rupees ($203 million). It had reported a revenue of 9.95 bln rupees a yr in the past.

Income from operations surged 33% to 52.11 billion rupees from a yr in the past.

is a part of the cooking oil-to-coal mining conglomerate Adani Group, which is run by Asia’s richest individual Gautam Adani.

The corporate achieved 200 million metric tonnes (MMT) of cargo through-put inside seven months, mentioned Karan Adani, chief government officer of and Particular Financial Zone.

Adani Ports’ portfolio now consists of 12 ports throughout the nation with the acquisition of Gangavaram Port within the southern Indian state of Andhra Pradesh.

The corporate mentioned it was on monitor to realize its full-year steering of 350-360 MMT cargo volumes and earnings earlier than curiosity, taxes, depreciation of 122 billion rupees to 126 billion rupees.

($1 = 82.6470 Indian rupees)

(Reporting by Nallur Sethuraman in Bengaluru; Enhancing by Saumyadeb Chakrabarty)

(Solely the headline and movie of this report could have been reworked by the Enterprise Commonplace employees; the remainder of the content material is auto-generated from a syndicated feed.)

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