Adani Ports FY15 consolidated net up 33% at Rs2,314 crore
02 May 2015
Adani Ports and Special Economic Zone Limited (APSEZ), India's largest port developer and part of Adani Group, today reported a 33 per cent increase in its consolidated net (after-tax) profit for the 2014-15 financial year ended 31 march, at Rs2,314 crore, against Rs1,740 crore in the corresponding period of the previous fiscal.
Consolidated total income increased by 24 per cent to Rs6,838 crore in FY15 from Rs5,514 crore in the corresponding period last year and consolidated EBIDTA increased by 27 per cent to Rs4,588 crore in the current year from Rs3,604 crore in the previous fiscal.
Consolidated net profit for the fourth quarter of the 2014-15 financial year (January-March 2015) increased by 25 per cent to Rs661 crore, against Rs530 crore in the corresponding quarter of the previous financial year.
Consolidated total income, including other income during the fourth quarter of the financial year increased by 42 per cent to Rs1,832 crore in Q4 of FY15 against Rs1,291 crore in the corresponding quarter last year and consolidated EBIDTA increased by 49 per cent to Rs1,247 crore in the current quarter compared to Rs836 crore in the corresponding quarter last year.
Adanai Ports said the results included that of The Dhamra Port Company Limited, which APSEZ acquired on 23 June 2014.
Commenting on the results, Gautam Adani, chairman, Adani Group, said, ''This year the Adani Group celebrated its Silver Jubilee and it has been a very eventful year. We have created additional future pathways for growth for our APSEZ business and as the opportunities in Indian port sector rapidly multiply in the days to come we believe we are well positioned to capture the growth and capitalize on our model of integrated business''.
Consolidated cargo handled by the company, across all ports, was 144 MMT in FY15, an increase of 28 per cent, over the corresponding period last year. Adani Ports at Mundra handled 111 MMT cargo in FY15 thereby continuing its leadership as the largest commercial port business in India. The Mundra port registered a 10 per cent growth in FY15 compared to 5 per cent aggregate cargo growth at all major ports.
Also, in case of containers, the Mundra port handled 2.72 million TEUs in FY15 against 2.39 million TEU's in corresponding period last year, a 14 per cent year-on-year growth compared to a growth of 7 per cent aggregate growth in container volumes at all the major ports.
''The company has had another record year. We accelerated our growth and grew our cargo volumes by 28 per cent and net profit by 33 per cent. This year we also completed the Dhamra acquisition, commercialized the Tuna Port in record time and signed a 50:50 JV with CMA Terminals to build a brand new container terminal at Mundra,'' Sudipta Bhattacharya, chief executive of APSEZ, said.
The board of directors have recommended a dividend of 55 per cent, ie,Rs1.10 per equity share for FY 2014-15.
