Adani Ports Increases 40.7% In Profit

In the third quarter of fiscal year 2018-19, on the basis of year-on-year basis, Advani Group’s Adani Group’s logistics unit Adani Ports has seen an increase of 40.72%.

Compared to Rs 1,001.00 crore in the corresponding quarter of the previous year, the profit of Adani Ports increased to Rs 1,408.60 crore. During this period, the net income of the company increased by 5.02% to Rs. 2,823.91 crore from Rs. 2,688.85 crore. 

Apart from this, Adani Ports’ Ebitda stood at Rs 1,843 crore and Ebitda margin reduced by 1% to 65%. 

Cargo volume of the country’s largest multi-port operator is 12% more than 52 MMT (metric ton ton). During the quarter, the company has increased all ports and areas. At the same time, 11% in the Adani Ports coal supply, 9% in container logistics and 9% increase in bulk in addition to coal.

However, despite the strong results, the shares of Adani Ports are under pressure. The shares of Adani Ports in BSE open at a flat price of Rs 331.15 compared to the last closed price. There was a slight increase in the stock, but after 10 o’clock, weakness started. The shares of the company are falling around Rs. 2.55 or 0.77%, at around Rs. 328.60, at around 11 o’clock.

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