Media Release Details
Adani Ports and SEZ Q2FY14 Consolidated Total Income rose 81% to Rs 1,407 crore
- Consolidated Total Income for H1FY14 increased by 77% to Rs 2,975 crore vs. Rs 1,683 crore in H1FY13
- Consolidated EBIDTA for H1FY14 increased by 65% to Rs 1,956 crore vs. Rs 1,189 crore in H1FY13.
- Consolidated PAT for H1FY14 increased by 38% to Rs.759 crore vs. Rs.552 crore in H1FY13
- Consolidated Total Income for Q2FY14 increased by 81% to Rs 1,407 crore vs. Rs 778 crore in Q2FY13
- Consolidated EBIDTA for Q2FY14 increased by 93% to Rs 1,013 crore Vs. Rs 524 crore in Q2FY13.
- Consolidated PAT for Q2FY14 increased by 24% to Rs.342 crore vs. Rs.276 crore in Q2FY13
- Handled highest:
- Coal discharge of 151,299 MT from MV Cape Fushen on 10-Sep-13 in 24 Hrs
- Coal volume 17.87 MMT in H1FY14 surpassing Paradip Port (16.01 MMT)
- Containers volume (1.04 Million TEUs) in H1FY14 (previous best 0.88 Million TEUs in H2FY13)
Ahmedabad, October 25, 2013: Adani Ports & SEZ Ltd, India’s largest port developer and part of Adani Group, today announced the financial results for the second quarter and half year ended September 30, 2013.
Consolidated total income for the half year increased by 77% to Rs 2,975 crore compared to Rs 1,683 crore in the same period last year. The consolidated EBIDTA increased by 65% to Rs 1,956 crore compared to Rs 1,189 crore in the same period last year. The consolidated PAT increased by 38% to Rs.759 crore for half year as compared to Rs 552 crore in the same period last year. The consolidated cargo handled by the company was 54.75 MMT in H1 FY14, an increase of 34%, over same period last year.
Consolidated total income for the quarter increased by 81% to Rs 1,407 crore compared to Rs 778 crore in the same period last year. The consolidated EBIDTA increased by 93% to Rs 1,013 crore compared to Rs 524 crore in the same period last year. The consolidated PAT for the quarter increased by 24% to Rs 342 crore as compared to Rs 276 crore in the same period last year. The consolidated cargo handled by the company was 28.08 MMT in Q2 FY14, an increase of 30%, over same period last year.
Adani ports handled 48.21 MMT cargo with 27% growth in H1FY14 compared to growth of 2% for cargo at all other ports. In case of containers handled 1.04 million TEUs with 22% growth as compared to de-growth by 5% for container volume at all other ports, making it the largest commercial port in India.
The Company handled 24.62 MMT cargo with 21% growth in Q2FY14 compared to growth of 6% for at all other ports. In case of containers handled 0.56 million TEUs with 33% growth as compared to de-growth by 5% for at all other ports.
Commenting on the results, Mr. Gautam Adani, Chairman, Adani Ports & SEZ Ltd. said, “With Mundra Port firmly established as No. 1 port of the country, we have continued our endeavor to maintain leadership position not only in volume and margin growth but also in implementing best practices in processes, service levels, Corporate Social Responsibility and people development. Our thrust is to create value for all our stakeholders on multi dimensions.”
Mr B Ravi, Chief Financial Officer elaborating on the financial performance said, we have grown at a stupendous rate quarter on quarter. Our continuous focus has been to increase efficiency by optimizing and improving the operations at our ports and the growth is a result of such focused effort.”
The port at Dahej continues to perform very well, handling a cargo of 2.48 MMT in Q2FY14, a rise of 112% as compared to 1.17 MMT in corresponding quarter previous year. For H1FY14 cargo handled was 4.70 MMT with growth of 59% compared to corresponding period previous year.
The port at Hazira handled a cargo of 0.98 MMT in Q2FY14 and 1.84 MMT in H1FY14, continuing its journey to be a large diversified port, adding to the overall Adani Ports synergy.
Progress on Other Port Projects and Other Highlights:
Project execution of ports at Goa, Vizag is near completion and Tuna Tekra at Kandla is as per the schedule.