NEW DELHI: Adani Ports and Special Economic Zone Limited (APSEZ) on Wednesday reported a 30.51 per cent decline in its consolidated net profit to Rs 968.34 crore for the second quarter ended in September due to a rise in its expenses.
The country's largest integrated logistics player had clocked a consolidated net profit of Rs 1,393.69 crore in the same period a year earlier, the company said in a BSE filing.
Its total consolidated income increased to Rs 4,066.78 crore for the second quarter, against Rs 3,423.16 crore in the year-ago period.
The company's total expenses during the quarter under review increased to Rs 2,509.81 crore from Rs 1,622.78 crore a year ago.
"APSEZ has delivered a strong first half, which is a testimony to our growth story," Karan Adani, Chief Executive Officer and Whole Time Director of APSEZ said.
"Our strategy of geographic expansion with a focus on higher-growth regions, balancing cargo mix, expansion in the logistics business, particularly rail transportation, and foray into grade-A warehousing segment reflects our move towards a 'Transport Utility' business model and is resulting in a continuous increase in our market share," Adani added.