(FE)
Adani Ports and Special Economic Zones (SEZ) is exploring opportunities to expand its presence in Maharashtra and Andhra Pradesh, group CEO Karan Adani told analysts on Monday. The port and logistics arm of the Adani Group recorded consolidated net profit of Rs. 1,059.20 crore, up 72.4% year-on-year from the same period last year, primarily on account of a one-time deferred tax write-back of Rs. 290.04 crore.
“Andhra Pradesh and Maharashtra are the two places where we do not have any substantial footprint. So we would look at opportunities which would fall under that. We would evaluate them from growth, return and a risk point of view, on how much diversification we can face. But yes, we would look at it proactively,” Karan Adani said. The company has already emerged as a winning bidder for the beleaguered Dighi Port in Maharashtra.
The operating profit of the company for the September quarter stood at Rs. 1791.17 crore, compared with Rs. 1,703.48 crore a year ago. The operating margin, however, fell 182 basis points to 63.5% in September.
