India’s Adani Ports and Special Economic Zone reported fourth-quarter profit above estimates on Thursday, as growth in cargo volumes accelerated during a seasonally strong quarter for construction activity.
The country’s top private port operator reported a consolidated net profit of 30.14 billion rupees ($356 million) for the quarter ended March 31, beating analysts’ average estimate of 25.71 billion rupees, as per data compiled by LSEG.
Private port operators including Adani Ports and smaller rival JSW Infrastructure have benefitted from steady cargo movement across Indian borders, especially during the fourth quarter, which typically sees increased construction activity due to favourable weather.
India’s Adani Power fourth-quarter profit falls on lower tariffs, higher costs
Adani Ports’ cargo volumes rose 8% to 118 million metric tonnes in the reported quarter.
This drove revenue nearly 24% higher to 84.88 billion rupees, surpassing analysts’ estimate of a 16.5% rise.
However, U.S. President Trump’s erratic tariff policies have threatened to disrupt trade and pile additional risks on India’s slowing economy.
Comments
Comments are closed for this article.