India's largest port developer and logistics arm of Adani Group, APSEZ, Monday reported a 41.45 per cent surge in its consolidated net profit to Rs 1,314.19 crore for the quarter ended on March 31, 2019.
Adani Ports and Special Economic Zone Limited (APSEZ) had clocked a consolidated net profit of Rs 929.06 crore for the fourth quarter of the last fiscal, the company said in a regulatory filing.
Total income of the company grew marginally to Rs 3,492.72 crore during the quarter under review as against Rs 3,487.29 crore a year-ago.
Its consolidated total expenses, however, decreased to Rs 1,840.35 crore in the January-March quarter as against Rs 2,162.10 crore in the year-ago period.
Karan Adani, Chief Executive Officer and Whole Time Director of APSEZ said, "FY19 had been a landmark year in the history of APSEZ. We have not only exceeded our guidance of handling of 200 MT (million tonne) in FY19 but also demonstrated our capability of being resilient and grow across all segments and ports. Our strategy to tie up cargo for our terminals at major ports ensured optimum utilization of these ports."
Deepak Maheshwari, CFO and Head of Strategy said, ...In all the four quarters of FY19 and have achieved PAT of over Rs 4,000 cr. for the first time... We expect this trend to continue in FY20 giving us the ability to make strategic investments in port and logistics business."