Adani Ports and Special Economic Zone, India’s largest private port infrastructure developer, reported its consolidated net profit in the first fiscal quarter, which ended June 30, was $68.5 million, increasing 51 percent year-over-year.
Quarterly revenue jumped 73 percent from the year-ago period to $257 million.
Adani’s various cargo terminals, including its flagship Mundra, handled 26.68 million tons of cargo during April to June, up 39 percent from the same quarter in 2012. Volume at Mundra rose 35 percent to 23.59 million tons.
"We take pride in Mundra Port emerging as the largest port, outperforming all the commercial ports in India. Adani Ports, with its innovative practices and service standards, will continue to contribute in overall growth of Indian port infrastructure sector," group chairman Gautam Adani said.
Adani boosted its net income 47 percent year-over-year to $300.25 million in fiscal year 2012-13, which ended March 31. The company recently announced a joint venture arrangement with ocean carrier Mediterranean Shipping Co. to operate the Adani International Container Terminal at Mundra Port.