Oct 28 (Reuters) - India's Adani Ports and Special Economic Zone reported a 16.5% rise in second-quarter profit on Wednesday, helped by strong cargo volumes and growing container traffic across its domestic and international ports.
The country's largest private port operator also raised its fiscal 2027 revenue forecast to 440 billion rupees-460 billion rupees ($4.63 billion-$4.84 billion) from 430 billion-450 billion rupees earlier.
Guidance for earnings before interest, taxes, depreciation ands amortisation was revised up to 260 billion-270 billion rupees from 250 billion-260 billion rupees.
The earnings and forecast hikes underscore resilient cargo demand at Adani Ports despite geopolitical tensions, shifting trade routes and broader supply-chain disruptions affecting the global shipping and logistics industry.
Indian port operators have benefited from steady domestic trade, rising container traffic and continued investments in port infrastructure and connectivity, helping offset uncertainty in global commerce.
Adani Ports' consolidated net profit rose to 36.22 billion rupees in the quarter ended September 30 from 31.09 billion rupees a year earlier. Revenue from operations increased 23.7% to 113.4 billion rupees.
Adani Ports has been expanding its international footprint and transshipment capabilities, including at Vizhinjam in southern India and Colombo in Sri Lanka, as it seeks to capture a larger share of global container traffic.
The company handled 142 million metric tons of cargo in the September quarter, up about 15% from a year earlier, supported by strong growth in container and dry cargo volumes. In August, it handled a record 50 million tons, a 19% year-on-year jump.
($1 = 95.1150 Indian rupees)
Reporting by Surbhi Misra in Bengaluru; Editing by Subhranshu Sahu
Source: Reuters