Adani Ports Profit Grows by 31 % in Q1 FY17
Adani Ports and Special Economic Zone Limited (APSEZ), India’s largest port developer and the logistics arm of Adani Group, has announced operational and financial performance for the first quarter ended June 30, 2016.
Consolidated total income (including other income) on a Y o Y basis increased by 11 % to Rs. 2084 cr. ($312 million).
Our consolidated EBITDA margin is 64% and Ports EBITDA margin is 71%,both continue to be the best in the industry.
Cargo volume handled on a consolidated basis was 42.33 MMT in Q1 FY17, an increase of 7 % Year on Year (Y o Y) . We have once again outperformed all India port growth, while Indian cargo growth was 4 %, Adani Ports grew at 7 %.
APSEZ CEO Karan Adani said: "A healthy growth in cargo volumes, operational efficiencies and our strategy to increase bulk cargo volumes, other than coal volumes have enabled us to report all round growth in our financial numbers."
The bottomline growth is a result of the firm's immense focus on controlling borrowing costs along with maintaining high EBITDA margin, he added.
"Going forward, coastal shipping, commissioning of CT4, further growth in volumes at Kattupalli will be our focus areas," he concluded.
