Essar Ports Profit Jumps 15%
Essar Ports Limited today announced its unaudited results for the full year and quarter ended March 2015. · Essar Ports takes over the Vizag Iron Ore outer harbor terminal with 2 berths on 14th May 2015. Existing operational terminal with no gestation period. Refurbishment of terminal to happen alongside operations. 1. Revenue for FY’15 is Rs. 1,741 cr, an increase of 6% against Rs 1,637 cr in FY’14. 2. EBITDA for FY’15 is Rs. 1,416 cr, an increase of 7% against Rs 1,327 cr in FY’14. 3. PAT for FY’15 is Rs. 391 cr, an increase of 2% against Rs 384 cr in FY’14. 4. Earnings Per Share for FY’15 were Rs. 1. Revenue for the quarter is Rs. 440 cr, an increase of 1% against Rs 434 cr in Q3FY’15 and 6% increase against Rs 416 cr in Q4FY’14. 2. EBITDA for Q4 FY’15 is Rs.
Essar Ports Acquires Vizag Port's Iron Ore Complex
Essar Ports Ltd. (EPL) today announced the taking over of Vishakhapatnam Port Trust’s (VPT) Iron Ore Handling Complex on a Build-Operate-Transfer (BOT) basis, for a period of 30 years. Essar Vizag Terminals Ltd. (EVTL), a wholly owned subsidiary of EPL, will comprise three berths (two outer harbour berths and one inner harbour berth) with a combined capacity of 23 Million Tonnes per Annum (MTPA) which will be developed in two phases. “Enhancing the cargo handling capacity and mechanization of port facilities for efficient management is crucial for long term sustenance. We are very sure that Essar will develop the OHC facility with latest state-of art handling facilities and achieve higher loading rate thereby reducing the overall turn around by at least 50%”- M.T.
