Adani Ports‘s share price was upbeat after the ports major posted its earnings for the June quarter.

What Happened: The ports giant’s net profit for the quarter climbed up over 47% to ₹3,107 crore, compared to the ₹2,119 crore posted in the same quarter last year. Revenue from operations came in at ₹6,956 crore, up around 11% from the ₹6,247 crore posted in the corresponding quarter of the previous year.

The company recorded its highest-ever EBITDA at ₹4,848 crore. At the end of the quarter, the net debt to trailing twelve-month EBITDA ratio stood at 2.1.

Shares of the company that were on a downward trajectory recovered sharply after the results came out.

During the quarter, the Adani Group company handled a cargo volume of 109 million metric tonnes, marking an 8% year-on-year increase. This growth was primarily driven by a significant rise in container volumes, which were up by 18%, and liquids and gas volumes, which increased 11%.

The company experienced a temporary disruption at the Gangavaram Port, resulting in a loss of 5.7 million metric tonnes; however, operations have now been fully restored.

Price Action: Adani Ports’ share price was up 1.15% to trade at ₹1,588 on Thursday afternoon.

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