Adani Ports and Special Economic Zone Ltd, the flagship company of the Adani Group, today reported over 80 per cent rise in consolidated net profit at Rs 2,119.38 crore for the April-June quarter of the current fiscal. The company’s profit has increased mainly due to increase in income. The company had posted a net profit of Rs 1,177.46 crore in the corresponding quarter of 2022-23, the company said in a regulatory filing. Total income of Adani Ports and Special Economic Zone (APSEZ), increased to Rs 6,631.23 crore for the quarter ended June 2023 from Rs 5,526.19 crore in the year-ago period.
Earnings increased and expenses decreased
The company’s expenses declined to Rs 4,065.24 crore in the quarter under review from Rs 4,438.32 crore in the year-ago period. Adani Enterprises Ltd, the flagship company of the Adani Group, has reported a 44.41 per cent rise in consolidated net profit at Rs 676.93 crore for the first quarter ended September 30, 2019. The company said in a regulatory filing that its profit has increased due to the reduction in expenses. The company had posted a net profit of Rs 468.74 crore in the year-ago period. Total income, however, declined to Rs , 25,809.94 crore during the quarter under review as against Rs 41,066.43 crore in the year-ago period.
The group gave information
The company’s expenses declined to Rs 24,731.42 crore in the last quarter from Rs 40,433.96 crore in the year-ago period. Separately, Adani Group Chairman Gautam Adani said in a statement that the results reflect the group’s strong operational and financial achievements. “This outcome not only highlights our history of creating and promoting new and important infrastructure businesses, but also emphasises the future value and growth prospects of diverse businesses,” Adani said. He also mentioned that new businesses like Adani Airports, Adani New Industries, Data Centre and Adani Roads played a key role in the protest.
