Adani reports 37% profit rise

Indian terminal operator Adani Ports and Special Economic Zone (APSEZ) has announced that its profit before tax increased by 37% year-on-year in the third quarter of its 2016 financial year (FY) which ended on December 31, 2015.

The company reported that its consolidated profit before tax rose to 703 crore (US$103m) in the third quarter of FY 2016 from 513 crore (US$75m) in the same period of the previous year.

The operator’s profit for the nine months ended on December 31, 2015 went up by 17% year-on-year, from 1,802 crore (US$264m) to 2,112 crore (US$309m).