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Could abandon Myanmar container terminal project: Adani Ports

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MUMBAI : Adani Ports and Special Economic Zone, which operates some of the largest commercial ports in India, reported a 285% jump in consolidated net profit for the March quarter at ₹1,287.81 crore. The company had posted a profit of ₹334.39 crore in the corresponding quarter last year. Operating revenue for the firm rose 24% to ₹3,608 crore from ₹2,921 crore in the same quarter last year. Consolidated operating Ebitda advanced 39% to ₹2,287 crore.

Adani Ports and Special Economic Zone Ltd could abandon a Myanmar container terminal project and write down the investment if it is found to be violating sanctions imposed by the United States, the company said on Tuesday.

Source : Mint

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