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Adani Ports & SEZ H1 net rises 61%

Adani Ports & SEZ H1 net rises 61%
Adani Ports & SEZ Ltd, India’s largest private port developer and part of the Adani Group, said on Friday that its total income rose 37 per cent to Rs 1,603 crore for the half year ended September 30, 2012 compared to Rs 1,168 crore in the corresponding half of the previous year.

The net profit for the half year increased by 61 per cent to Rs 848 crore in the current year as compared to Rs 528 crore in the corresponding period of the previous year. The EBIDTA increased by 53 per cent to Rs 1,218 crore compared to Rs795 crore in the corresponding half of the previous year.

The cargo handled by the company at Adani ports stood at 37.85 mmt in H1 FY13, an increase of 12 per cent over the same period a year ago.

Commenting on the results, Adani Ports & SEZ Ltd Chairman Gautam Adani said, ‘It gives me pleasure to state that Adani Ports has once again outperformed all commercial ports. Through its global benchmarked practices, it continues to significantly contribute in the overall growth of Indian Port Infrastructure.’

‘We have been the leaders in the ports sector in terms of our customer service, diversified cargo portfolio and financial performance,’ said Chief Financial Officer [CFO] B Ravi. EBIDTA margins of the company jumped from 68 to 76 per cent in
H1 FY13.

On consolidated basis, the total income rose 45 per cent to Rs 2,146 crore for the half year ended September 30, 2012, compared to Rs 1,484 crore in the corresponding last year. The net profit for the half year increased by 2 per cent to Rs 552 crore compared to Rs 542 crore in the corresponding period previous year.
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