India’s Adani Ports and Special Economic Zone logged a quarterly profit rise on Tuesday, boosted by growing cargo volumes and said its Israeli port of Haifa “operated unhindered” in a quarter which saw the Israel-Iran conflict.
India’s biggest private port operator is seen as a proxy for long-term infrastructure prospects in the world’s fastest growing major economy.
The company operates 15 domestic ports and terminals, and four international ones – including one in Haifa, a major port city in Israel.
The Haifa port clocked highest quarterly revenue and operating core profits since the group acquired and privatised it in 2022, Adani Ports said.
A 12-day-long conflict between Iran and Israel in June had many ships avoiding West Asia and rerouting through a longer route around the southern tip of Africa, lifting volumes at major Indian ports by 6%, ElaraCapital said.
Cargo volumes for Adani Ports grew, 11% on-year during April-June, faster than 8% in the preceding quarter and 7.5% year-ago. That lifted its revenues by 31% to 91.26 billion rupees ($1.04 billion).
The port operator’s consolidated net profit rose 6.5% on-year to 33.15 billion rupees for the quarter.
Adani Ports maintained its fiscal year 2026 forecast of cargo volumes at 505 million metric tonnes to 515 million metric tonnes.