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This year, I am hoping we will make a profit of INR 6,000-7,000 crore: Gadkari

While speaking at Cochin Shipyard’s listing, Union Shipping Minister said, based on the improvement in the efficiencies of the major ports, that he expects a good jump up to 40% in the profits amounting to INR 7,000 crore this year.

"This year, I am hoping we will make a profit of INR 6,000-7,000 crore," he said.

Of this, the minister said he expects up to INR 2,000 crore from the largest container port, Jawaharlal Nehru Port Trust (JNPT), alone.

Gadkari said there has been a 2.8% increase in the 12 state-run ports' efficiencies compared to their private sector rivals.

The minister said the major ports' profits are steadily growing ever since the NDA government took office in May 2014.

The ports reported profits of INR 3,000 crore in FY15, INR 4,000 crore in FY16 and INR 5,000 crore in FY17.

The minister said as soon as the NDA government came to power, it appointed an international consultant to recommend measures to make the ports of global standard.


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