Essar Ports Posts 20% Cargo Growth
Essar Ports, India's second-largest, private-sector port and terminal company by capacity and throughput, posted a record 20 per cent cargo growth in April-September period of the ongoing financial year (ending March 31, 2020) with a throughput of 27.29 MT.The Essar Group company, h operates four terminals on the east and west coasts of India, said in a press note that the growth has been driven by a 183.21% increase in third-party cargo compared to that in the corresponding period in the previous financial year. Cargo from captive customers grew by 6%.Rajiv Agarwal, MD & CEO, Essar Ports Ltd, said: “Significant boost in third-party business has been the key driver for our growth in overall volumes.
Essar Ports Handles Record Volume
On the back of increased production by its anchor customers, Essar Ports Limited (EPL) has registered significant growth in cargo handling over the last three months. In March 2016 alone, EPL’s four operational ports handled total cargoes of 6.25 million tonnes (MMT), which translates to a run rate of 75 million tonnes per annum (MTPA). With the recent commissioning of the 20 MMT Salaya Bulk Terminal, cargo handling will see a further boost in FY2017. The contribution of third-party traffic to overall cargo handling stands at about 10% currently. About 90% of the cargo handled at EPL’s Hazira, Vadinar, Vizag and Paradip ports is contracted with captive businesses, like Essar Steel India Ltd, Essar Oil Ltd and Essar Power Ltd.
Essar Ports Net Profit up 16% to Rs. 383.7 cr for FY 13-14
Essar Ports Ltd. (Essar Ports), part of Essar and one of the largest port companies of India, today announced its audited results for the financial year 2013-13 and for quarter ended March 2014. * Net Profit for the year increased by 16% to Rs. 383.7 crore from Rs. 331.6 crore for the previous year. For Q4 FY14, the Net Profit reduced by 1% to Rs. 90.8 crore from Rs. 92.1 crore in Q4 FY13. * Earnings Per Share for the year was Rs 8.97 as against Rs 7.80 for previous year. Earnings Per Share for Q4 FY14 was Rs. 2.12 as against Rs. 2.15 for Q4 FY13. * Essar Ports board recommends a dividend of 5 % (Rs. by 13% to Rs. 1637.4 crore from Rs. 1448.6 crore for the previous year. For Q4 FY14, the Revenues increased by 5% to Rs 415.5 crore from Rs 396.7 crore in Q4 FY13.
