Adani Ports and Special Economic Zone Ltd (APSEZ) today reported 7.88 per cent decline in consolidated net profit to Rs 992.37 crore for the second quarter ended September 30, due to higher tax incidence.
The logistics arm of Adani Group had clocked a net profit of Rs 1,077.28 crore in the corresponding period of the last fiscal, it said in a BSE filing.
Consolidated profit after tax was Rs 992 crore. The profit after tax is lower due to higher tax incidence of Rs 381 crore in Q2 FY18 from Rs 82 crore in Q2 FY17, the company said in a statement.
Its total income rose to Rs 2,962.12 crore during the quarter under review as against Rs 2,410.03 crore in the corresponding period a year ago.
The total expenses of the company increased to Rs 1,584.19 crore in the July-September quarter as against Rs 1,251.98 crore in the year-ago period.
The company said APSEZ in H1 FY18, generated free cash flows of Rs 690 crore and reduced net debt by Rs 737 crore.
The logistics firm said its
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