India's Adani Ports reports quarterly profit rise on cargo growth
India's biggest private port operator is seen as a proxy for long-term infrastructure prospects in the world's fastest growing major economy.
Its consolidated net profit rose 6.5% on-year to 33.15 billion rupees ($377.6 million) for the April-June quarter.
The company said Executive Chairman Gautam Adani will now be its non-executive chairman. Consequently, the Indian billionaire would cease to be key managerial personnel of the company, it said.
Cargo volumes for the ports operator grew, opens new tab 11% on-year in the quarter, faster than 8% in the preceeding quarter and 7.5% year-ago, opens new tab. That lifted its revenues by 31% to 91.26 billion rupees.
Adani Ports maintained its fiscal year 2026 forecast of cargo volumes at 505 million metric tonnes to 515 million metric tonnes.
($1 = 87.7890 Indian rupees)
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