Adani Ports and Special Economic Zone Limited, India’s largest port developer and part of Adani Group, reported a 17% jump in its total cargo volumes and a 32% increase in revenue during the first quarter
Consolidated cargo across all ports handled by the company was 40 MMT in Q1FY16.
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.
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.
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. the company’s strong financial and operational results are a testimony of the company’s continued focus on execution of the company’s strategy”.
The group recently announced the demerger of the group and moved away from its present ‘holding company’ structure and instead has fthe company’s independently listed entities for the fthe company’s 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 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,” it said.
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,” said the group, one of India’s leading business houses with revenue of over $10 billion.
Founded in 1988, Adani has grown to become a global integrated infrastructure player with businesses in key industry verticals – resources, logistics and energy. The integrated model is well adapted to the infrastructure challenges of the emerging economies.
The Group has also made significant inroads in the agri-infrastructure business by setting up grain storage silos and cold storage facilities, catering to storage of apples from Himachal Pradesh.