Emerges as the 2nd largest commercial port company
Bangalore, August 1, 2012: Adani Ports & SEZ Ltd, India’s largest private port developer and part of Adani Group, a global integrated player, today said its total income rose 51% to Rs.811 crore for the quarter ended June 30, 2012 compared to Rs.536 crore in the corresponding quarter of previous year. The net profit increased by 64% to Rs.418 crore for the current quarter as compared to Rs. 254 crore in the corresponding quarter previous year. The EBIDTA increased by 68% to Rs.622 crore compared to Rs.369 crore in the corresponding quarter previous year. The cargo handled by the company at its Adani ports stood at 17.42 MMT, an increase of 9%, over the same period a year ago, making it the 2nd largest commercial port in India.
On a consolidated basis, total income rose 76% to Rs.1,057 crore for the quarter ended June 30, 2012 compared to Rs.601 crore in the corresponding quarter last year and net profit increased by 8% to Rs.276 crore against Rs.255 crore in the corresponding quarter previous year. The EBIDTA increased by 104% to Rs.790 crore compared to Rs.388 crore in the corresponding quarter previous year. The consolidated cargo handled is 22.55 MMT an increase of 26% over the same period a year ago. Commenting on the results, Mr. Gautam Adani, Chairman, Adani Ports & SEZ Ltd. said, “The Company has continued to perform well amongst all ports and is steadily marching towards becoming the largest commercial port in India.”
Further elaborating on the financial performance, Mr B Ravi, Chief Financial Officer, Adani Ports & SEZ Ltd, said, “We have continued with the outstanding performance and retained a prominent position in the market. Backed by continuous growth in volumes and commissioning of new port projects in this fiscal will give a further impetus to emerge as a world class port infrastructure operator.”
He added that the growth in cargo is 9% in Adani Ports while there was de-growth of 6% in all other major ports put together. The company also increased its market share to over 11%, up by 1% .
Even on the container side the company has outperformed other container ports by registering a 25% growth compared to no growth at other container terminals. Adani Ports’ market share has risen to 18% , up by 3%.
Progress on Other Port Projects and Other Highlights:
- Adani Port became the 2nd largest port among all Indian Commercial Ports
- Signed concession agreement with Kandla Port Trust to set up a dry bulk terminal at Kandla.
- Emerged as the only private sector port operator with presence across six ports in India.