Millennium Post

Adani Ports & SEZ Ltd Q4 net rises 25% to `661 crore

Adani Ports & SEZ Ltd Q4 net rises 25% to `661 crore
Adani Ports and Special Economic Zone Ltd (APSEZ) on Friday reported a 25 per cent jump in its consolidated net for the fourth quarter ending March 31 to Rs 661 crore on higher income and enhanced cargo volumes.

APSEZ, India's largest port developer and part of Adani Group had reported a net profit of Rs 530 crore in the corresponding quarter of 2013-14. "Consolidated total income increased by 42 per cent to Rs 1,832 crore in Q4 FY15 from Rs 1,291 crore in the same quarter last year and consolidated EBIDTA increased by 49 per cent to Rs 1,247 crore against Rs 836 crore last year," the company said in a statement. The company said its consolidated PAT for the full fiscal year increased by 33 per cent to Rs 2,314 crore compared with Rs 1,740 crore last year. Also its consolidated total income increased by 24 per cent to Rs 6,838 crore in FY15 compared with Rs 5,514 crore in the previous year and consolidated EBIDTA increased by 27 per cent to Rs 4,588 crore from Rs 3,604 crore last year.

Adani Group Chairman Gautam Adani said: "We have created additional future pathways for growth for our APSEZ business and as the opportunities in Indian port sector rapidly multiply in the days to come we believe we are well positioned to capture the growth and capitalise on our model of integrated business."  The results include the result of The Dhamra Port Company Limited, which APSEZ acquired on June 23, 2014. Consolidated cargo across all ports handled by the company was 144 million tonnes (MT) in FY15, an increase of 28 per cent over the previous year. The company said Adani ports at Mundra handled 111 MT cargo in FY15 thereby continuing its leadership as the largest commercial port business in India.

The Mundra port registered a 10 per cent growth in FY15 compared with 5 per cent aggregate cargo growth at all major ports. Also, in case of containers, the Mundra port handled 2.72 Million TEUs in FY15 as against 2.39 Million TEU's in FY14 resulting in a 14 per cent growth, the company said. Consolidated cargo handled by the company was 36 MT in Q4 FY15, an increase of 26 per cent, over corresponding quarter last year. Adani ports at Mundra handled 27 MT cargo in Q4FY15 thereby continuing its leadership as the single-largest commercial port in India, it said. Elaborating on the performance, Sudipta Bhattacharya, Chief Executive Officer of APSEZ: said "The Company has had another record year. We accelerated our growth and grew our cargo volumes by 28 per cent and net profit by 33 per cent." 

"This year we also completed the Dhamra Port acquisition, commercialised the Tuna Port in record time and signed a 50:50 JV with CMA Terminals to build a brand new container terminal at Mundra," Bhattacharya added. The statement also said its board of directors have recommended a dividend of 55 per cent, which is Rs.1.10 per equity share for FY2015. The company said the ports was awarded as "Port of the Year-Containerised Cargo" at Gujarat Junction 2015 and its Ennore Container Terminal project is progressing well.
PTI

PTI

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