APSEZ Q1 profit falls 9%

APSEZ is the logistics arm of Adani Group

APSEZ Q1 profit falls 9%

August 7, 2018: Adani Ports and Special Economic Zone Limited (APSEZ), the logistics arm of Adani Group has reported a 9 percent decline in consolidated profit during the first quarter ended 30th June, to Rs 691 crore from Rs 761 crore a year ago, as per its exchange filings. 

The profit reportedly stumbled in the second straight quarter due to foreign exchange losses.

The company's revenue dropped 12 percent to Rs 2,411 crore from Rs 2,745 crore a year ago. EBITDA were up by a percent at Rs 1,588. 

Operating margin rose to 66 percent after declining for two successive quarters. It stood at 57 percent in the corresponding three months a year ago.