The investment comes days after Deloitte resigned as auditor of APSEZ after raising concerns about transactions between Adani Ports and three companies, which Adani said were independent parties. On August 12, Adani Ports informed the stock exchanges that, based on the recommendation of the Audit Committee, its Board of Directors had accepted the resignation of Deloitte Haskins & Sells LLP, who had submitted their resignation from the position of auditor of the company and its material subsidiaries. Deloitte has been replaced by MSKA & Associates, an independent member firm of BDO International, as the firm’s auditor, subject to shareholder approval.
Earlier this month, Adani Ports released its earnings report for the June quarter, posting its strongest quarterly operating performance ever. The company reported an 80% increase in net income to ₹2,119 crore in the first quarter of fiscal 2024 compared to ₹1,177 crore in the corresponding period last year, driven by the highest quarterly port freight volume ever. Operating revenue increased 24% year-on-year to ₹6,248 crore from ₹5,058 crore in the same period last year.
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