Sudipta Bhattacharya News

Adani Group has elevated chairman Gautam Adani’s son Karan Adani to the post of chief executive officer (CEO) of Adani Ports and SEZ (APSEZ) with effect from January 1, 2016. He is currently the executive director of the company and does not hold any board-level position. The decision to appoint him as CEO was taken in a board meeting held on December 28, 2015 and he will replace outgoing CEO Sudipta Bhattacharya, who is moving to the US to take over as the chief executive — North America. Adani (27), currently executive director, is the eldest son of the Adani Group's founder chairman Gautam Adani. An economics graduade from Purdue University, US, he has been associated with the the group's ports business since 2009.

Adani Ports and Special Economic Zone Limited (“APSEZ”), India’s largest port developer and part of Adani Group, today announced a 16 per cent increase in its consolidated net profit to Rs. 667 crore for the second quarter on increased income from operations. “Consolidated PAT for Q2FY16 increased by 16 per cent to Rs. 667 crores as against Rs. 574 crores in Q2 FY15,” APSEZ spokesman said. It had reported net profit of Rs. 573.52 crore for the second quarter, July-September, of the 2014-15 fiscal. Consolidated cargo across all ports handled by the company was 76 MMT in H1FY16, an increase of 10%, over corresponding period last year. Adani ports at Mundra handled 57 MMT cargo in H1FY16 thereby continuing its leadership as the largest commercial port in India.

Adani Ports and Special Economic Zone Limited (“APSEZ”), India’s largest port developer and part of Adani Group, today announced the financial results for the quarter ended June 30, 2015. Consolidated cargo across all ports handled by the company was 40 MMT in Q1FY16, an increase of 17%,over corresponding quarter last year. In case of containers, the Mundra port handled 748,000 TEUs in Q1FY16 as against 681,000 TEU’s in corresponding quarter last year resulting in a 10 % growth as compared to growth of 3% aggregate growth in container volumes at all the major ports. Our twin ports of Hazira and Dahej handled cargo of 5.42 MMT in Q1FY16 thereby showing a growth of 22%.

Adani Ports and Special Economic Zone Limited (“APSEZ”), India’s largest port developer and part of Adani Group, today announced the financial results for the fourth quarter and year ended March 31, 2015. Consolidated cargo across all ports handled by the company was 144 MMT in FY15, an increase of 28%, over corresponding period last year. Adani ports at Mundra handled 111 MMT cargo in FY15 thereby continuing its leadership as the largest commercial port business in India. The Mundra port registered a 10% growth in FY15 compared to 5% aggregate cargo growth at all major ports. Also, in case of containers, the Mundra port handled 2.72…

Adani Ports & Special Economic Zone Ltd (APSEZ), India’s largest port developer and part of Adani Group, a global integrated player, today said it had commissioned a bulk terminal at Tuna Tekra, Kanda Port, with an annual handling capacity of over 20 million tonnes, further consolidating its leadership one position on the west coast of India. Nitin Gadkari, the Honourable Minister for Shipping, Road Transport and Highways inaugurated the terminal after the berthing of the project’s first vessel MV Sheng Ming earlier in the day. “The Tuna Tekra terminal is yet another feather in the Adani cap. We expect the terminal to be a game-changer for Export Import trade of the Northwest hinterland of India, thanks to its strategic location.

Adani Ports and Special Economic Zone Limited (“APSEZ”), India’s largest port developer and part of Adani Group, today announced the financial results for the third quarter and nine months ended December 31, 2014. Consolidated cargo handled by the company was 108 MMT in 9M-FY15, an increase of 29%, over corresponding to same period last year. Adani ports at Mundra handled 84 MMT cargo in 9M-FY15 thereby continuing its leadership as the largest commercial port business in India. The Mundra port registered a 13% growth in 9M-FY15 compared to 5% aggregate cargo growth at all major ports. Also, in case of containers, the Mundra port handled…

Adani Ports & SEZ Ltd, India’s largest port developer and part of Adani Group, today announced financial results for the quarter and half year ended September 30, 2014. The company reported a 67.7 per cent rise in consolidated net profit at $ 95.6 million for quarter ended September 30, helped by strong cargo growth volume. The company’s net profit in the corresponding period of the last fiscal stood at $ 56.97 million, APSEZ said in a filing to the BSE. Consolidated cargo handled by the company was 69.01 MMT in H1FY15, an increase of 26%, over corresponding to same period last year. Adani ports at Mundra handled 55.43 MMT cargo in H1FY15 thereby continuing its leadership as the largest commercial port in India.

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.

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.