Adani Group firm Mundra Port and SEZ Ltd reported a growth of over 29% in net profit to INR 273.42 crore for the quarter ended September 30th 2011, on the back of increased revenues from operations.

The company had reported a net profit of INR 211.67 crore for the corresponding quarter last fiscal.

Net sales of the company stood at INR 587.76 crore during the second quarter, a rise of over 44% from INR 407.60 crore in the July to September period of FY'11.

However, the company's operating costs rose by over 49% during the quarter to INR 149.65 crore.

It added that the company took a hit of INR 46.44 crore on net finance costs in Q2 as the company experienced several gains and losses on derivative contracts in the capital market during the period.

(Sourced from ET)