Essar Ports Q2 Profit up 9%

•   Essar Ports Q2 FY’16 net profit jumps 9% Y-o-Y to Rs.104.5 cr
•   Essar Ports Q2FY’16 revenue up 8% Y-o-Y to Rs.470.3 cr
•   Essar Ports Q2FY’16 EBITDA up 5% Y-o-Y to Rs.379.5 cr

Essar Ports Limited, part of Essar, today announced its unaudited results for the quarter ended September 2015.

Key Highlights:

Financial Performance for Q2 FY’16

1.    Revenue for the quarter is Rs. 470.3 cr, an increase of 8% against Rs 435.3 cr in Q2FY’15 and an increase of 4% against Rs 452.2 cr in Q1FY’16.

2.    EBITDA for Q2FY’16 is Rs. 379.5 cr, an increase of 5% against Rs 361.4 cr in Q2FY’15 and an increase of 4% against Rs 364.9 cr in Q1FY’16.

3.    PAT for Q2FY’16 is Rs. 104.5 cr, an increase of 9% against Rs 96.1 cr in Q2FY’15 and an increase of 5% against Rs 99.1 cr in Q1FY’16.

Mr. Rajiv Agarwal, Managing Director, Essar Ports Ltd.. commented, “The Company has consistently delivered results in line with expectations. We are on track for completing our capacity addition projects over the next few years. The emphasis continues to be on development of world class facilities and to complete the projects in hand in time.”

Business Update:

·         Billed traffic during Q2FY16 is 20.64 MMT as against 17.70 MMT in Q2FY15.

Awards and accolades earned:

  * Essar Ports Limited has been conferred with CSR Company of the year award and CSR award for excellence in Maritime and Logistics Sector by Gujarat Star Awards.

  * Vadinar Oil Terminal Limited won Port Terminal of the year award in the field of Health Safety & Environment.

  * Essar Bulk Terminal Paradip Limited won 14th Annual Greentech Safety Award 2015.