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Adani Ports and SEZ Ltd (APSEZL), on Friday, has reported an increase of 26 per cent in consolidated PAT and 11 per cent in consolidated income in the third quarter of 2015-16, ended December 31, 2015, compared to the corresponding period last fiscal.
While the consolidated income was ₹1,896 crore (₹1,704 crore), PAT stood at ₹645 crore (₹512 crore), according to an APSEZL statement here.
During the period, the company commenced construction work at Vizhinjam port in Kerala where India’s first international deepwater seaport is being developed, said Gautam Adani, Chairman, Adani Group.
He said Adani Ports and Terminal Investments (an arm of the Swiss-based Mediterranean Shipping Company S.A.) decided to expand the facilities to create a transhipment hub for West Asia, South Asia and India.
Besides, Adani Ports entered into an in-principle agreement for strategic acquisition of the Kattupalli Port in Tamil Nadu with L&T Shipbuilding Ltd.
While awaiting the necessary approvals, APSEZL, through its subsidiary Adani Kattupalli Port Pvt Ltd, has entered into an arrangement effective November 1, 2015, for port operations.
Adani said the company had footprints at 10 locations on the Indian coastline.
“While we look to continue our impressive growth in ports, we would now also look to the development of industrial clusters and end-to-end logistics in a big way, thereby becoming a fully integrated logistics player”.
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