Adani Ports’ Reported Decline in Profit by 6%

Adani Ports and Economic Zone have reported a fall in net profit by 6% taking it to Rs 1,479 crore during the third quarter of the current financial year. The consolidated revenue of the company grew by 1% to a crore. EBITDA fell 2% during the third quarter to  Rs 2,431 crore. The cargo volume was subdued due to the higher commodity prices and a disruptive supply chain in the third quarter as well. 

Karan Adani, the CEO and Whole Time director has said that the learnings in 2020 and the operational expertise helped the company in the expansion. He also said that the construction of a new port at Vizhinjam in Kerala, with the new terminal in Colombo, Sri Lanka will act as a new transshipment hub in southeast Asia.

Karan Adani also said that with the use of renewable energies the company is also on the road to achieving carbon neutrality by 2025 and becoming the most sustainable port company in the world.