Adani Port Q2 net profit jumps 32%

Adani Port Q2 net profit jumps 32%

Shares of Adani Port & Special Economic Zone gained 1.34% to Rs 365.95 apiece Thursday after the private port operator clocked 32% rise in net profit to Rs 1,394 crore for the fiscal second quarter to September 30.
It had posted a profit of Rs 1,059.20 crore for the corresponding quarter last year.
Revenue from operations grew around 3% YoY to Rs 2,902.52 crore.
Adani Port witnessed 300 basis points growth in the overall cargo market share to 24%, as compared to 21% in Q1 FY21.
EBITDA of the company increased by 136% YoY to Rs 2,229 crore.
With economy reopening in stages, Adani Port has returned to growth trajectory registering a cargo volume growth of 36% on a QoQ basis.
It has continued to witness increase in free cash generation, in H1 FY21 cash flow from operations after adjusting for working capital changes, capex and net interest cost, stands at Rs 2,884 crore.

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