Adani Ports and Special Economic Zone in India said that it was "well-positioned" to reach the upper end its core profit forecasts for fiscal year 2025 after missing Tuesday's profit estimates.

After a 10% increase in cargo volumes in the third quarter of fiscal year 2025, compared to a 7.5% rise in the preceding quarter, the country's biggest private port operator reiterated their forecast for the fiscal year in the range of 460-480 million metric tonnes (MMT).

After the results, shares of the company traded 1% higher.

Adani Ports' net profit for the quarter was 24.45 billion Indian rupees (US$291 million), below analysts' estimates of 25.98billion rupees. This is according to LSEG. ($1 = 84.0750 Indian rupees) (Reporting by Hritam Mukherjee in Bengaluru; Editing by Sumana Nandy)

(source: Reuters)