The profit after tax is lower due to higher tax incidence at Mundra which is now out of tax holiday period, Adani Ports said. Photo: AFPNew Delhi: Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest port developer and the logistics arm of Adani Group, on Saturday saw a 13.65% fall in net profit at Rs710.25 crore for the first quarter ended June on account of higher tax. Its total income rose to Rs2,959.63 crore during the quarter under review as against Rs2,085.14 crore in the corresponding quarter a year ago. Mundra port is on the verge of becoming the largest container handling port in India. While Mundra, our mother port grew by 5 per cent, Hazira grew by 19 per cent and Kattupalli grew by 30 per cent,” the statement said.

Source: Mint August 12, 2017 13:07 UTC