Representative image showing an Adani Port.
DH File Photo
Adani Ports and Special Economic Zone said it is "well positioned" to hit the upper end of its core profit forecast for fiscal year 2025, after missing the second-quarter profit estimates on Tuesday.
The country's largest private port operator by volumes reiterated its fiscal year 2025 cargo volume forecast in the 460 million metric tons (MMT)-480 MMT range, after a 10% rise in volumes during the September quarter, from a 7.5 per cent growth in the previous quarter.
Shares of the company reversed course to trade 1% higher after the results.
Adani Ports reported a consolidated net profit of Rs 2,445 crore ($291 million) for the period, below analysts' average estimate of 2,598 crore, according to LSEG data.
($1 = 84.0750 Indian rupees)