Adani Ports & SEZ Q3 consolidated PAT up 18%

Mumbai, Jan 18 : Adani Ports and Special Economic Zone (APSEZ) on Thursday reported a rise of 18 per cent in its consolidated profit after tax (PAT) for the third quarter (Q3) ended December 31, 2017.

In a regulatory filing to the BSE, the company reported a consolidated PAT of Rs 994 crore -- up 18 per cent from Rs 847.46 crore reported during the corresponding period of the previous fiscal.

The company's consolidated income from operations increased by 22 per cent to Rs 2,689 crore in Q3 2017-18 from Rs 2,209 crore during the same period in 2016-17.

"Consolidated operating EBITDA (earnings before interest, taxes, depreciation and amortization) increased by 46 per cent to Rs 1,967 crore in Q3FY18 from Rs 1,344 crore in Q3FY17," the company said in a statement.

APSEZ handled cargo of 47.61 MT (million tonnes) with a growth of 16 per cent during the quarter in question.

"Cargo volumes growth in Q3FY18 rebounded after a tepid Q2FY18. This growth was led by all round double digit growth in all major cargo that we handle," said Karan Adani, Chief Executive Officer and Whole Time Director of APSEZ.

"We would continue to increase our footprints in the logistics space. This will further improve our port to hinterland connectivity," he added.

On Thursday, APSEZ's shares closed lower by 4.50 per cent at Rs 413.55 on the BSE.