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Adani Ports and SEZ nine months PAT up 51pc

Posted on Jan 28, 06:45PM | IBNS

Adani Ports and SEZ Ltd, India's largest private port developer and part of Adani Group, on Monday said its total income rose 35pc to Rs.2,533 crore for the nine months ended December 31, 2012 compared to Rs.1,870 crore in the corresponding nine months of previous year.

The net profit for nine months increased by 51pc to Rs.1,263 crore in current year as compared to Rs.838 crore in the corresponding period previous year.

The EBIDTA increased by 48pc to Rs.1,905 crore compared to Rs.1,289 crore in the corresponding nine months of previous year. The cargo handled by the company at its Adani ports stood at 59.24 MMT in nine months FY13 an increase of 15pc , over the same period a year ago.

Commenting on the results, Gautam Adani, Chairman, Adani Ports and SEZ Ltd. said, "It is indeed a matter of pride and deep sense of satisfaction that the Company has been outperforming the other ports in terms of cargo volumes and growth, efficiencies and profitability, thereby contributing to nation building."

EBIDTA margins of the company jumped to 75pc from 69pc in nine months FY'13.

On consolidated basis the total income rose 46pc to Rs.3,540 crore for the nine months ended December 31, 2012 compared to Rs.2,431 crore in the corresponding last year.

The net profit for the nine months increased by 6pc to Rs.913 crore as compared to Rs.863 crore in the corresponding period previous year. The EBIDTA increased by 61pc to Rs.2,463 crore compared to Rs.1,528 crore in the corresponding previous year.

The consolidated cargo handled by the company stood at 76.21 MMT in nine months FY13 an increase of 24pc , over the same period a year ago.

The cargo handled at all other ports have shown de-growth of 3pc .

On quarterly basis total income rose 32pc to Rs.927 crore for the current quarter ended December 31, 2012 compared to Rs.701 crore in the corresponding quarter last year.

The net profit increased by 34pc to Rs.415 crore for the current quarter as compared to Rs.311 crore in the corresponding quarter previous year. The EBIDTA increased by 40pc to Rs.687 crore compared to Rs.492 crore in the corresponding quarter previous year.

The cargo handled by the company at its Adani ports stood at 21.38 MMT, an increase of 21pc , over the corresponding quarter a year ago.

On a consolidated basis, total income rose 50pc to Rs.1,390 crore for the quarter ended December 31, 2012 compared to Rs.927 crore in the corresponding quarter last year.

The net profit for the current quarter increased by 13pc to Rs.361 crore against Rs.321 crore in the corresponding quarter previous year.

The EBIDTA increased by 53pc to Rs.944 crore compared to Rs.617 crore in the corresponding quarter previous year.

The consolidated cargo handled is 28.32 MMT an increase of 32pc over the corresponding quarter a year ago.