Adani Ports Income Up by 15%

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 and nine months ended December 31, 2015.

Consolidated total income including other income increased by 15% to Rs.5,779 crores in 9MFY16 as compared to Rs.5,006 crores in the corresponding period last year and the consolidated EBIDTA excluding other income increased by 22% to Rs.3,421 crores in the current nine months as compared to Rs.2,806 crores in corresponding period last year.

Consolidated total income increased by 11 % to Rs.1,896 crores in Q3FY16 as compared to Rs.1,704 crores in the corresponding period last year and the consolidated EBIDTA excluding other income increased by 15% to Rs. 1,071 crores in the current quarter as compared to Rs. 934 crores in corresponding period last year.

The consolidated PAT for 9MFY16 increased by 18% to Rs 1,953 crores, as compared to Rs 1,654 crores in corresponding period last year and in Q3FY16 increased by 26% to Rs 645 crores, as compared to Rs 512 crores in corresponding period last year.

Mr. Gautam Adani, Chairman, Adani Group said “We have made our footprints at 10 locations on the Indian coastline. While we look to continue our impressive growth in ports, we would now also look to the development of industrial clusters and end-to-end logistics in a big way thereby becoming a fully integrated logistics player”.

Mr. Karan Adani, Chief Executive Officer of APSEZ, said “A new chapter has begun in our ports business, with a great responsibility on my shoulders. We are focusing on improving top line and bottom line of the company by improving operational efficiency through use of technology, better cargo mix and by bringing down net finance cost”.
 
Progress on Other Projects:
Adani Ports has laid the foundation stone at Vizhinjam, Kerala, to develop India’s First International Deepwater Seaport.

Adani Ports entered into an in-principle agreement for strategic acquisition of the Kattupalli Port in Tamilnadu with L&T Shipbuilding Limited (“LTSB”).While awaiting the necessary approvals, APSEZ through its subsidiary Adani Kattupalli Port Private Limited has entered into an arrangement effective November 01st, 2015 to take over the operations of the Port. APSEZ will expand its existing terminal at Adani International Container Terminal Private Limited (“AICTPL”) in Mundra Port.

AICTPL is a 50:50 joint venture with Terminal Investment Limited (an arm of Swiss-based Mediterranean Shipping Company S.A., the second largest shipping liner in the world). The expansion is being carried out to create a transhipment hub for the Middle East, South Asia and India.