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

People & Company News

BIMCO Welcomes EU Decision on Migrants

BIMCO has stated today that it appreciates the new efforts by EU leaders to reduce increasing reliance on merchant shipping to rescue the growing numbers of

Long Beach, Los Angeles ports host forum to gather input

More than 100 cargo owners, trucking firm leaders, longshore labor, marine terminals and other goods movement industry representatives turned out Wednesday for

Arctic Nations to Fight Climate Change Despite Russia Tensions

The eight Arctic Council nations pledged on Friday to do more to combat climate change that is shrinking the vast frigid region, with countries trying to put

Ports

APM Maasvlakte II Terminal Opens

APM Terminals Maasvlakte II held a ceremony  to celebrate the opening of the world’s most automated container terminal.   The  event that was attended by Dutch

Skangass Celebrates Topping Up

Nordic liquefied natural gas operator Skangass  has celebrated a topping out ceremony at its Pori LNG terminal. The company said it was making progress in the

Zim Offers Asia-US east coast service via Suez

Israeli liner carrier Zim Integrated Shipping Services is launching a new service between Asia and the U.S. East Coast via the Suez Canal at the end of May.   The

Finance

Norwegian Car Carriers to Buy Two from Hyundai Samho

Oslo-listed Norwegian Car Carriers (NOCC) has signed a contract with Hyundai Samho Heavy Industries for the construction of two 6500 ceu Pure Car Truck Carrier (OCTCs).

Long Beach, Los Angeles ports host forum to gather input

More than 100 cargo owners, trucking firm leaders, longshore labor, marine terminals and other goods movement industry representatives turned out Wednesday for

Venezuela Probes ex-minister accused of corruption in Ferry Deals

A former minister in President Nicolas Maduro's government denied in an interview published on Friday accusations of corruption during the purchase of three

News

Goliat FPSO in Norway

The Goliat FPSO was successfully floated off the heavy-lift vessel, Dockwise Vanguard, in the fjord outside Hammerfest, says Eni Norge    The Goliat platform has arrived in Hammerfest,

BIMCO Welcomes EU Decision on Migrants

BIMCO has stated today that it appreciates the new efforts by EU leaders to reduce increasing reliance on merchant shipping to rescue the growing numbers of

Long Beach, Los Angeles ports host forum to gather input

More than 100 cargo owners, trucking firm leaders, longshore labor, marine terminals and other goods movement industry representatives turned out Wednesday for

Logistics

Norwegian Car Carriers to Buy Two from Hyundai Samho

Oslo-listed Norwegian Car Carriers (NOCC) has signed a contract with Hyundai Samho Heavy Industries for the construction of two 6500 ceu Pure Car Truck Carrier (OCTCs).

APM Maasvlakte II Terminal Opens

APM Terminals Maasvlakte II held a ceremony  to celebrate the opening of the world’s most automated container terminal.   The  event that was attended by Dutch

Goliat FPSO in Norway

The Goliat FPSO was successfully floated off the heavy-lift vessel, Dockwise Vanguard, in the fjord outside Hammerfest, says Eni Norge    The Goliat platform has arrived in Hammerfest,

 
 
Maritime Security Maritime Standards Naval Architecture Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | 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: 0.0052 sec (192 req/sec)