FCC

Adani Ports launches new arm Tajpur Sagar for Bengal port

2022-10-28

Adani Ports and Special Economic Zone has incorporated a wholly owned subsidiary named Tajpur Sagar Port on October 21. The firm has been registered with the Registrar of Companies, Gujarat, at Ahmedabad for the purpose of developing a deep-sea port at Tajpur, West Bengal on design, build, finance, operate and transfer basis.

Adani Ports has incorporated Tajpur Sagar Port with an initial authorised and paid-up capital of Rs 5 lakh, and said that it is yet to commence business operations.

Adani Ports & Special Economic Zone is in the business of development, operation and maintenance of port infrastructure, and has linked a multi-product Special Economic Zone (SEZ) and related infrastructure contiguous to the port at Mundra.

The company's consolidated net profit dropped 16.86% to Rs 10.91 billion in Q1 FY23 as against Rs 1313 billion recorded in Q1 FY22. Revenue from operations declined 0.71% to Rs 46.38 billion in Q1 FY23 from Rs 46.71 billion in Q1 FY22.