The consolidated profit of Adani Ports and Special Economic Zone Limited (APSEZ) jumped 16.22 per cent to Rs 1,576.53 crore in the third quarter ended of FY2020-21.

In a regulatory filing the company said, “the country’s largest integrated logistics player had clocked a consolidated profit of Rs 1,356.43 crore in the corresponding period a year earlier.”

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An increase in consolidated profit also resulted in a rise in total consolidated income to Rs 4,274.79 during the quarter under review. The company had posted total consolidated income at Rs 3,830.43 crore in the year-ago period.

Likewise, firm’s total expenses during the December quarter spiked to Rs 2,258.62 crore from Rs 2,091.40 crore in the year-ago period.

“The strong and lasting recovery at APSEZ has been the cornerstone of our journey in the recent past. It’s a proven certitude that our business now operates closer to a pure-play utility. Our portfolio of assets, increasing market share in India, and preeminence of our network with leadership positions have an unparalleled value proposition,” Karan Adani, Chief Executive Officer and Whole Time Director of APSEZ said.

He said the team at APSEZ continues to innovate and establish operational excellence as the key differentiator, thus improving margins.

“For instance, at KPCL, which was acquired in October, we have improved the EBIDTA margin from 55 per cent to 71 per cent. APSEZ is well on course to achieve 500 MMT (metric million tonne) of cargo throughput by FY25,” he said.

APSEZ will be investing in the logistics and warehousing business with increased investment in Tracks, Rakes as well as land for developing multimodal logistics parks and warehousing facility, he said.

APSEZ, a part of Adani Group is the largest port developer and operator in India with 12 strategically located ports and terminals Mundra, Dahej, Kandla and Hazira in Gujarat, Dhamra in Odisha, Mormugao in Goa, Visakhapatnam in Andhra Pradesh, and Kattupalli and Ennore in Chennai and Krishnapatnam in Andhra Pradesh that represent 24 per cent of the country’s total port capacity.