Adani Ports Consolidated PAT for Q1FY16 Up 13%

 

Adani Ports and Special Economic Zone Limited (“APSEZ”), India’s largest port developer and part of Adani Group, today announced the financial results for the quarter ended June 30, 2015.

Consolidated cargo across all ports handled by the company was 40 MMT in Q1FY16, an increase of 17%,over corresponding quarter last year.

In case of containers, the Mundra port handled 748,000 TEUs in Q1FY16 as against 681,000 TEU’s in corresponding quarter last year resulting in a 10 % growth as compared to growth of 3% aggregate growth in container volumes at all the major ports. 

Our twin ports of Hazira and Dahej handled cargo of 5.42 MMT in Q1FY16 thereby showing a growth of 22%.

Consolidated total income including other income increased by 32% to Rs.1,897 crores in Q1FY16 as compared to Rs.1,433 crores in the corresponding quarter last year and consolidated EBIDTA increased by 31% to Rs.1,294 crores in the current quarter as compared to Rs.990 crores in corresponding quarter last year.

The consolidated PAT in current quarter increased by 13% to Rs.641 crores, as compared to Rs.568 crores in corresponding quarter last year.

Commenting on the results, Mr. Gautam Adani, Chairman, Adani Group said “The Company’s pan India presence continues to expand and we have received the letter of award from the Government of Kerala for the development of the strategically located Vizhinjam port. Our strong financial and operational results are a testimony of our continued focus on execution of our strategy”.
 
Elaborating on the performance, Mr. Sudipta Bhattacharya, Chief Executive Officer of APSEZ, said “Despite the increasingly large baseline of cargo volume, we have continued to demonstrate strong growth as a result of our ability to capture market share through broadening of our network of ports and logistics capabilities”.
 
The group recently announced the demerger of the group and moved away from its present ‘holding company’ structure and instead has four independently listed entities for the four major business segments. Adani Enterprises has demerged its ports, power and transmission businesses in Adani Ports and Special Economic Zone, Adani Power and Adani Transmission, respectively.

APSEZ received “BBB-” international investment grade rating (BBB- (anchor rating of BBB) from Standard & Poor, Baa3 from Moody and BBB- from Fitch). APSEZ is the only infra company, out of India, to have received this rating. APSEZ raised USD 650Million in bonds which is the   first Investment Grade issuance and the largest offering by an infrastructure company in India.
 
Progress on Other Projects:
APSEZ received letter of award from the Government of Kerala for development and operation/maintenance of the Vizhinjam International Deepwater Multipurpose Seaport Project on PPP mode on DBFOT basis. This is a key strategic location to the world’s container traffic that moves, just 15 to 20 nautical miles from the port.

Ennore Container Terminal & Container Terminal -4 at Mundra projects are progressing well.