Adani Ports and SEZ Q1FY14 Consolidated Total Income up 73% at Rs 1,568 cr

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Editor’s Synopsis

 

Ahmedabad, August 1, 2013: Adani Ports & SEZ Ltd, India’s largest port developer and part of Adani Group, a global integrated player, today announced the financial results for the first quarter ended June 30, 2013.

 

On consolidated basis, the total income rose 73% to Rs 1,568 crore for Q1FY14 compared to Rs 904 crore in the corresponding quarter previous year. The EBIDTA increased by 42% to Rs 943 crore compared to Rs 665 crore in the corresponding quarter previous year. The PAT for the current quarter increased by 51% to Rs 418 crore as compared to  Rs 276 crore in the corresponding quarter previous year. The consolidated cargo handled by the company stood at 26.67 MMT in Q1 FY14 an increase of 39%, over corresponding quarter last year.

 

On standalone basis, the total income rose 122% to Rs 1,804 crore for the Q1FY14 compared to Rs 811 crore for the corresponding quarter in the previous year. The EBIDTA increased by 72% to Rs 1,069 crore compared to Rs 621 crore in the corresponding quarter previous year. The profit after tax for Q1FY14 increased by 58% to Rs 663 crore compared to Rs 418 crore in corresponding quarter previous year. Adani ports handled 23.59 MMT cargo and 0.47 million TEU’s container for Q1 FY14, an increase of 35% and 11% respectively, over corresponding quarter last year compared to de-growth of 1% for cargo and 4% for container volume at all major ports, making it the largest commercial port in India.  

 

Commenting on the results, Mr. Gautam Adani, Chairman, Adani Ports & SEZ Ltd. said, “We take pride in Mundra port emerging as the largest port, outperforming all the commercial ports, in India. Adani Ports, with its innovative practices and service standards, will continue to contribute in overall growth of Indian port infrastructure sector.”

 

Mr B Ravi, Chief Financial Officer elaborated on the financial performance, “It gives us immense pleasure to state that Adani Ports continues to outperform in cargo volume and has established its leadership position in the sector. Our growth will further get impetus from the newly commercialized port at Hazira and strengthen base for long term sustainable growth and a step towards pan India presence.”

© 2015 Adani Group