Adani Ports PAT for Q1FY15 Increases by 36%

By Joseph R. Fonseca
Wednesday, August 06, 2014
Adani & SEZ

 

Adani Ports & SEZ Ltd, India’s largest port developer and part of Adani Group, today announced financial results for the quarter ended June 30, 2014.

Consolidated cargo handled by the company was 33.83 MMT in Q1FY15, an increase of 27%, over corresponding quarter last year. Adani ports at Mundra handled 28.86 MMT cargo in Q1FY15 thereby continuing its leadership as the largest commercial port in India.

The Mundra port registered a 22% growth in Q1FY15 compared to 4% aggregate cargo growth at all major ports. Also, in case of containers, the Mundra port handled 681,000 TEUs in Q1FY15 as against 477,000 TEU’s in corresponding quarter last year resulting in a 43% growth as compared to growth of 4% aggregate growth in container volumes at all the major ports. 

The acquisition of the Dhamra port was also completed in Q1FY15 and it handled 4.20 MMT cargo during Q1FY15, a growth of 36% over the corresponding quarter last year. The capacity expansion work is already in progress.  Also, Dahej port volumes grew by 28% and the Hazira port volumes increased by 85% on a YoY basis.

Consolidated total income including other income for Q1FY15 stood at Rs.1, 430 crores.

The consolidated PAT for the current quarter increased by 36% to Rs 568 crores, as compared to Rs 418 crores in corresponding quarter last year.

In the previous year Q1FY14, container terminal (CT3) operated by APSEZ was transferred to a 50:50 JV with MSC, the world’s 2nd largest container shipping line.  Consideration received towards this is realigned to make the quarterly numbers comparable.

Consolidated total income from port related operations increased by 27% to Rs.1,430 crores in Q1FY15 as compared to Rs.1,131 crores in the corresponding quarter last year and consolidated EBIDTA increased by 39% to Rs.990 crores in the current quarter as compared to Rs.714 crores in corresponding quarter last year.

Commenting on the results, Gautam Adani, Chairman, Adani Group, said, “The results are a validation of our strategy as we continue to show growth significantly faster than the rest of the industry. The acquisition of the Dhamra port and the JV with CMA CGM will further augment our organic growth rates.”

Elaborating on the financial performance, Sudipta Bhattacharya, Chief Executive Officer of APSEZ, said, “We had a robust quarter with growth of all major cargo categories and we continue to maintain our EBIDTA margins at a high level of 70% in our port business. Our focus is on leveraging the benefits of our increasing scale and the resulting efficiencies through our pan India presence”.

Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Australian Defence Minister Says Would Not Trust Submarine Firm to Build Canoe

Australia's defence minister has said he would not trust state-owned Australian Submarine Corp (ASC) "to build a canoe", fuelling expectations that most work in

Matson Raises Guam, Micronesia Rates

Matson, Inc., a U.S. carrier in the Pacific, announced today that Matson Navigation Company, Inc. will raise its rates for the company's Guam/Commonwealth of the

Norwegian Buys Ship from Princess Cruises

Norwegian Cruise Line Holdings Ltd. announces fleet expansion for Oceania Cruises in 2016; Sirena to join sister ships Insignia, Regatta and Nautica   Norwegian Cruise Line Holdings Ltd.

Ports

Vacant Pier to Help Ease Long Beach Congestion

Pier S temporary depot to relocate empty containers for next five months    The Port of Long Beach expects a “Temporary Empty Container Depot” planned for a vacant

Vietnam Warship Visits Underscore Regional Tension

Vietnam on Tuesday showed off its two most powerful warships in the first-ever port call to the Philippines but an official said it was not trying to challenge

Vacant Pier at Long Beach Port to Ease Congestion

The Port of Long Beach expects a “Temporary Empty Container Depot” planned for a vacant pier on Terminal Island to be open and operating in December, which will

Finance

Matson Raises Guam, Micronesia Rates

Matson, Inc., a U.S. carrier in the Pacific, announced today that Matson Navigation Company, Inc. will raise its rates for the company's Guam/Commonwealth of the

Shipbuilding Regulations: Cents and Sensibility

Addressing the Jones Act is just one aspect of an increasingly complicated boatbuilding environment. Stovepiped, poorly conceived regulations is another. The sting of the recession is fading,

Ship Broker Clarkson Looks to Acquire Platou

Top ship broker Clarkson is seeking to acquire Norwegian brokerage and investment bank RS Platou for 281.2 million pounds ($441 million) in a deal that would create

News

US House to Hold Hearing on Oil Export Ban

A House of Representatives panel will hold a hearing on Dec. 11 to explore whether a decades-old law that prohibits the export of crude oil makes sense in an era of domestic energy abundance.

Bollinger Delivers 11th FRC to the US Coast Guard

Bollinger Shipyards, Inc. has delivered the William Trump, the 11th Fast Response Cutter (FRC) to the United States Coast Guard.   The announcement was made by Bollinger Chief Operating Officer,

Australian Defence Minister Says Would Not Trust Submarine Firm to Build Canoe

Australia's defence minister has said he would not trust state-owned Australian Submarine Corp (ASC) "to build a canoe", fuelling expectations that most work in

Logistics

Matson Raises Guam, Micronesia Rates

Matson, Inc., a U.S. carrier in the Pacific, announced today that Matson Navigation Company, Inc. will raise its rates for the company's Guam/Commonwealth of the

Vacant Pier to Help Ease Long Beach Congestion

Pier S temporary depot to relocate empty containers for next five months    The Port of Long Beach expects a “Temporary Empty Container Depot” planned for a vacant

Russian Liftings for Western Options at 12-Year Low

By Gleb Gorodyankin MOSCOW, Nov 25 (Reuters) - Exports of Russian crude oil to Western markets are set to fall by almost a third in December and reach a 12-year

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Pipelines Pod Propulsion Salvage Ship Electronics Shipbuilding / Vessel Construction 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: 0.3455 sec (3 req/sec)