Adani Ports and Special Economic Zone (APSEZ) on Monday reported a 16.86 per cent decline in consolidated net profit to Rs 1,091.56 crore for the first quarter of the current financial year despite record cargo volumes.
The country’s largest integrated logistics player had clocked a consolidated net profit of Rs 1,312.9 crore in the corresponding period a year ago, according to a regulatory filing.
Its total income during the June quarter rose to Rs 5,099.25 crore, as against Rs 5,073 crore in Q1 FY22.
The company’s total expenses also increased to Rs 4,174.24 crore from Rs 3,660.28 crore earlier.
APSEZ said it recorded its highest-ever quarterly cargo of 91 MMT (million metric tonnes).
The growth in cargo volume was led by dry cargo (11.2 per cent increase), followed by containers (3.2 per cent), and liquids including crude (5.6 per cent). The automobile segment, though a small proportion of overall volumes, saw a 120 per cent jump in volumes.