Adani Ports and Special Economic Zone established a wholly owned subsidiary named Tajpur Sagar Port on October 21. The company is registered with the Registrar of Companies, Gujarat, in Ahmedabad for the purpose of developing a deep sea port in Tajpur, West Bengal on the basis of design, construction, financing, operation and transfer.

Adani Ports has incorporated Tajpur Sagar Port with an initial authorized and paid-up capital of Rs 5 lakh, and said it is yet to commence business activities.

Adani Gates & Special Economic Zone is engaged in the development, operation and maintenance of port infrastructure and has a multi-product Special Economic Zone (SEZ) and related infrastructure linked to the port of Mundra.

The company's consolidated net profit declined 16.86% to Rs 10.91 billion in Q1 FY23, from Rs 1313 billion recorded in Q1 FY22. Operating income declined 0.71% to Rs 46.38 billion in Q1 FY23 from Rs 46.71 billion in Q1 FY22.