Adani Ports posts Rs 1,748cr net profit in Q2

Mumbai, Nov 9 (IANS) Adani Ports and Special Economic Zone on Thursday reported a 4.19 per cent increase in consolidated net profit to Rs 1,747.85 crore for the July-September compared to the same period of the previous year.

The company had to write off Rs 455 crore as past MAT credit on switching to the new tax regime which impacted its profit.

Its revenue from operations came in at Rs 6,646.41 crore, up 27.55 per cent from the same quarter of the previous year, the company said in an exchange filing.

The operating margin of the company during the quarter stood at 58 per cent, down YoY from 63 per cent. Net profit margin came in at 27 per cent, falling from 33 per cent, the company said.

For the first half of 2023-24, revenue increased by 26 per cent YoY to Rs 12,894 crore while EBITDA increased by 49 per cent YoY to Rs 7,429 crore.