Adani Ports’ Q1 consolidated net profit falls 26%

Mumbai, Aug 11 (IANS) Adani Ports and Special Economic Zone Ltd on Tuesday reported a 26.33 per cent fall in its consolidated net profit for the April-June quarter at Rs 757.83 crore.

During the corresponding period of last fiscal, the company reported a consolidated net profit of Rs 1,028.69 crore.

The total income of Adani Ports fell 14.53 per cent on a year-on-year basis to Rs 2,749.46 crore during the period under review.

Karan Adani, Chief Executive Officer and whole-time Director of Adani Ports said: “In the first quarter of FY21, we were able to perform operationally at par with pre-COVID levels. We kept the supply chain running and stood by our customers to prove as a bankable service provider at all times, ensuring stronger customer relationships and stickiness in cargo.”

The board of Adani Ports on Tuesday also gave its in-principle approval for issuance of Non-Convertible Debentures for an aggregate amount not exceeding Rs 3,000 crore in one or more tranches on private placement basis, the company said in a regulatory filing.

It further said that the board has given its consent for exploring and evaluating the proposal to create a platform company which will hold rail infra assets and investments held in rail entities.

–IANS

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