Adani ports consolidated revenue for Q1FY18 increased by 50%
Adani Ports and SEZ Ltd.
- Operating Income up by 50 %
- EBITDA up by 37 %
- PBT up by 24 %
- Consolidated PAT was Rs. 702 Cr
- Container volume grows by 21 %
- Mundra port for the first time handles more
than one Million TEU’s of containers in a quarter
Ahmedabad, August 12th, 2017: Adani Ports and Special Economic Zone Limited (“APSEZ”), India’s largest port developer and the logistics arm of Adani Group, today announced their financial results for the first quarter ended 30th June, 2017.
- Consolidated Revenue from operations increased by 50% from Rs. 1827 cr in Q1FY17 to Rs. 2745 cr in Q1FY18.
- Consolidated EBITDA increased by 37% from Rs. 1170 cr in Q1FY17 to Rs. 1598 cr in Q1FY18.
- Consolidated PBT increased by 24 % from Rs. 879 cr in Q1FY17 to Rs.1092 cr in Q1FY18
- Consolidated Profit after Tax was Rs.702 cr.
- The Profit after Tax is lower due to higher tax incidence at Mundra which is now out of tax holiday period. However, from a tax cash flow angle, there is no change (impact) as MAT credit of earlier years is available to the tune of Rs. 2700 cr.
- In Q1FY18, APSEZ handled Cargo of 50 MMT, which includes 6 MMT of cargo handled by ABPO* (Australia). (*Abbot Point Operations Pty Ltd.,)
- In line with strategy to diversify cargo mix, container volumes grew by 21 % and other bulk cargo grew by 12 %. Container volumes at Mundra grew by 20%, Hazira by 25% and Kattupalli port grew by 31 %.
- Container shipping liners have started three new services at Mundra and two at Hazira.
- The JV with France’s CMA – CGM commenced operations at Mundra Port.
- Larger ports viz., Mundra, Hazira, Kattupalli and Dahej registered significant growth in overall cargo volumes. While Mundra, our mother port grew by 5 %, Hazira grew by 19 % and Kattupalli grew by 30 %.
- Dahej Port started handling fertilizer and agri products.
- Railway volumes handled by Adani Logistics Ltd., (100% subsidiary of Adani Ports and SEZ Ltd.,) grew by 69% from 34,065 TEU’s in Q1FY17 to 57,668 TEU’s in Q1FY18. Revenues of ALL grew by 28 % from Rs. 166 cr in Q1FY17 to Rs. 210 cr in Q1FY18.
- Adani Logistics commissioned multimodal logistic park at Kila Raipur (Punjab).
- Vizhinjam Port construction is progressing well.
- As part of increasing our efforts on business sustainability, APSEZ released its second sustainability report based on GRI standard. The company also conducted greenhouse gas inventory study (carbon foot print) at six of its ports (Mundra, Tuna, Hazira, Dahej, Goa and Dhamra). APSEZ has entered into renewable energy projects to reduce thermal energy use and is moving towards carbon neutrality.
- Mr. Karan Adani, Chief Executive Officer and Whole Time Director of APSEZ said, operations in our port and logistic business continues to be robust. With our string of ports across India providing multi point access to India’s hinterland. We expect our cargo volumes to grow as per our earlier guidance in FY18. Mundra port is on the verge of becoming the largest container handling port in India. We would continue to pursue our plans to expand our Logistic foot prints by adopting Asset light model. Our aim is to provide seamless hinterland connectivity for our customers across our ports. Higher capacity utilization, focus on operational efficiencies by automation and technology upgrades and focus on cost reduction will ensure higher Cash flows. We will continue moving forward and setting benchmarks in this industry in line with the aims and goals of the nation.”