Adani Ports joins arms to develop deep sea port in West Bengal | Whuff News

Adani Ports and Special Economic Zones announced that it has incorporated a wholly owned subsidiary in the name of Tajpur Sagar Ports on October 21, 2022.

Tajpur Sagar Port has been incorporated in India and registered with the Registrar of Companies, Gujarat at Ahmedabad for the purpose of developing a deep sea port based on design, construction, finance, operation and transfer at Tajpur, West Bengal.

Adani Ports incorporated Tajpur Sagar Port with an initial authorized and paid-up capital of Rs 5 lakh each and said it is yet to start its business operations.

Adani Ports & Special Economic Zones is in the business of development, operation and maintenance of port infrastructure (port services and related infrastructure development) and has connected various Special Economic Zone (SEZ) products and related infrastructure adjacent to the port in Mundra.

The company’s consolidated net profit fell 16.86% to Rs 1,091.56 crore in Q1 FY23 compared to Rs 1,312.99 crore recorded in Q1 FY22. Revenue from operations declined 0.71% to Rs 4,637.95 crore in Q1 FY23 from Rs 4,671.19 crore reported in Q1 FY22.

The scrip shed 0.09% to now trade at Rs 804.60 on the BSE.

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(This story has not been edited by Business Standard staff and is automatically generated from a syndicated feed.)

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