Mundra Port handles highest cargo volumes in India
Adani Ports & SEZ Ltd, India’s largest port developer and part of Adani Group, today announced the financial results for the fourth quarter and year ended March 31,2014.
Consolidated total income for the year FY14 increased by 43% to Rs 5,508 crore compared to Rs 3,841 crore in the last year. The consolidated EBIDTA increased by 36% to Rs 3,604 crore compared to Rs 2,640 crore in the last year. The consolidated PAT without considering Abbot Point, which had been divested last year, for the current year increased by 13% to Rs 1,740 crore as compared to Rs1,538 crore in the last year. The consolidated cargo handled by the company was 112.75 MMT in year FY14, an increase of 24%, over last year.
Consolidated total income for the current quarter increased by 19% to Rs 1,289 crore compared to Rs 1,082 crore in the same period last year. The consolidated EBIDTA increased by 20% to Rs 836 crore compared to Rs 698 crore in the same period last year.
The consolidated PAT without considering Abbot Point, which had been divested last year, for the current quarter increased by 43% to Rs 530 crore as compared to Rs 370 crore in the same period last year. The consolidated cargo handled by the company was 28.85 MMT in Q4FY14, an increase of 12%, over same period last year.
Adani ports Mundra handled 101.12 MMT cargo making it the largest commercial port in India. It registered a 23% growth in the year FY14 compared to growth of 2% for cargo at all major ports. In case of containers, it handled 2.39 million TEUs with 38% growth as compared to de-growth by 3% in container volume at all major ports.
During the current quarter Adani Ports Mundra handled 26.39 MMT cargo with 15% growth in Q4FY14 compared to growth of 1% for at all major ports. In case of containers, it handled 0.71 million TEUs with 49% growth as compared to a no growth at all major ports.
Commenting on the results, Gautam Adani, Chairman, Adani Ports & SEZ Ltd. said, “It has been a proud year for us as Mundra Port is the first Indian commercial port to cross the 100 million ton mark. We expect to continue our leadership in the sector and contribute towards Nation Building.”
Sudipta Bhattacharya, Chief Executive Officer elaborating on the financial performance said, “We had a robust year with growth on all fronts and improved margins. Our focus on integrated services, process efficiencies coupled with our customer focus will enable us to create significant value for all the stakeholders.”
The port at Dahej continues to perform very well. It handled cargo of 7.89 MMT in the year FY14, a rise of 4% as compared to 7.56 MMT in corresponding period previous year.
The port at Hazira handled a cargo of 0.94 MMT in Q4FY14 and 3.73 MMT in the year FY14.
The Board of Directors have recommended a dividend of 50% i.e Rs.1 per equity share for FY 13-14.
(Rs 60 = $ 1)