Adani Ports and Special Economic Zone Ltd.

Adani Ports and Special Economic Zone is in talks with Tata Steel concerning the terms of handling cargo at Dhamra Port in Orissa, a port which is jointly owned by Tata Steel and Larsen and Toubro. With this initiative, Adani Ports is taking significant move towards acquiring a strategic control of the port. The entity has raised certain concerns regarding the cargo handling policy at the port in terms of warranties, damages and liabilities which seems to be in favor of the Tata Group.

The company has reported 33.75% rise in its net profit at Rs 415.43 crore for the quarter ended December 31, 2012 as compared to Rs 310.60 crore for the same quarter in the previous year. Total income of the company has increased by 32.32% at Rs 927.36 crore for quarter under review as compared to Rs 700.82 crore for the quarter ended December 31, 2011.