Oct 29 Reuters India39;s Adani Ports and Special Economic Zone said it is well positioned to hit the upper end of its core profit forecast for fiscal year 2025, after missing the secondquarter profit estimates on Tuesday.

The country39;s largest private port operator by volumes reiterated its fiscal year 2025 cargo volume forecast in the 460 million metric tons MMT480 MMT range, after a 10 rise in volumes during the September quarter, from a 7.5 growth in the previous quarter.

Shares of the company reversed course to trade 1 higher after the results.

Adani Ports reported a consolidated net profit of 24.45 billion rupees 291 million for the period, below analysts39; average estimate of 25.98 billion rupees, according to LSEG data.

1 84.0750 Indian rupees

Reporting by Hritam Mukherjee in Bengaluru; Editing by Sumana Nandy

Source Reuters