Adani EBIDTA Up 62% for Q1FY15

By Joseph R. Fonseca
Saturday, August 09, 2014
Adani Group

 

Adani Enterprises Ltd, the flagship company of the Adani Group, today announced its results for the first quarter ended June 30, 2014.
 

Financial Highlights:

The consolidated Total Income for quarter increased by 43% to Rs 16,524 crore against Rs 11,547 crore in the same period last year. The consolidated EBIDTA increased by 62% to Rs 3,275 crore against Rs 2,017 crore in the same period last year. The consolidated PAT is Rs 557 crore.

Our coal trading, ports and power businesses continue its robust performance, however, recognition of compensatory tariff and higher volume of units sold in power business have resulted in improvement of overall performance.

Commenting on the results, Mr Gautam Adani, Chairman Adani Group, said, “Our improved performance has set the direction of growth as we see greater contribution from completed projects in our ports, power and mining verticals. With renewed efforts from new Government to address the concerns of fuel availability, rail infrastructure, transmission constraints, project approvals and debottlenecking of mining sector, we see greater growth opportunities in the sectors we operate.”

Mr. Ameet Desai, Group Chief Financial Officer, Adani Group, said, “Our Coal trading, MDO, Ports & Logistics businesses continue to grow surpassing previous records of revenue & profits. Power generation business has shown growth due to new capacities coming into operation coupled with enhanced PLF & improved operations. With continued focus on leveraging the benefits of our increasing scale and operational efficiencies, we expect further boost in our operating performance in future.”
 

Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Sea Star Continues Puerto Rico Investments

Sea Star Line, LLC has entered an agreement to on-hire another barge to add to its current service package for shipments from Jacksonville to Puerto Rico.   The

Rand Logistics Announces Debt Refinancing

Rand Logistics, Inc. announced today that it has closed a $170.0 million revolving loan facility which refinanced approximately $102.0 million of the company's

Baltic Sea Freight Index Edges Higher

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, edged higher on Monday as rates rose for vessels across all segments.

News

WOW at USMMA

The United States Merchant Marine Academy Hosts 7th Annual Women on the Water Conference. Last week, The United States Merchant Marine Academy (USMMA) in conjunction with the U.

Methanol Powered Ferry Launched in Baltic Sea

Swedish ferry operator Stena Line has announced that it has converted the Stena Germanica to run on methanol, an industry first.   The company spent $24 million on converting the ship to methanol.

U.S. Oil Train Traffic mostly from Midwest to East Coast

U.S. oil trains delivered more than 13.5 million barrels of crude oil from the Midwest to the East Coast in January, according to government data that gives a first

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Pod Propulsion Port Authority Salvage Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1413 sec (7 req/sec)