Adani Ports and Special Economic Zone reported a consolidated net profit of ₹1,748 crore in the September quarter, up 4.2 per cent, while revenue from operations rose 27.6 per cent to ₹6,646.4 crore.

Its stock ended 1.5 per cent lower as the profit came below Street estimates.

With a portfolio of 14 ports in India and handling about a fourth of the total port cargo, it is the largest private port operator in the country.

Cargo volumes in the quarter rose 17 per cent on year to 101.2 million tonnes (mt), with container volumes showing a rise of 24 per cent. Geography-wise, its ports on the East handled 40.2 mt of cargo, up 17 per cent on the year, while those on the West coast handled 57.9 mt, up 11 per cent on the year.

Cargo handled by its flagship Mundra Port was 44.4 mt, while non-Mundra ports handled 53.7 mt.

In the reporting quarter growth at Mundra was primarily driven by container cargo followed by crude, gas, and coal. At Dhamra it was minerals, crude, and gas, at Hazira container cargo, while growth at Gangavaram and Krishnapatnam was driven by minerals cargo.

The earnings before interest, tax, depreciation, and amortisation in the quarter were ₹3,880 crore compared to ₹3,260 crore year ago.

For the half year, consolidated operating revenue rose 26 per cent to ₹12,894 crore, EBITDA was ₹7,634 crore. The EBITDA margin of the ports business in the half year expanded 220 bps to 72 per cent with improved realisation and operating efficiencies.

In the period April to September, the port operator handled 240 million tonne (mt) of cargo, while its full-year guidance is 370-390 mt.

The company ended the quarter with a gross debt of ₹47,177 crore.