Ahmedabad, May 3 (IANS) Adani Ports and Special Economic Zone Limited (APSEZ) on Tuesday reported a rise of 38 percent in its net profit for the quarter ended March, at Rs.914 crore as compared to Rs. 661 crore in corresponding quarter last year.
Consolidated total income of the port developer increased to Rs.2,162 crore in the last quarter of 2015-16, up 18 percent, from Rs.1,832 crore in the corresponding quarter last year.
In the last fiscal, the company posted a 24 percent rise in its net profit to Rs.2,867 crore as against Rs.2,314 crore in 2014-15.
Consolidated EBIDTA, excluding other income, rose by 12 percent to Rs.1,225 crore in the quarter as compared to Rs.1,096 crore in the quarter year ago. Consolidated cargo for the January-March quarter stood at 37 mmt.
"With total operating income for the first time exceeding the $1 billion mark. With an expanded footprint at 10 locations along the Indian coastline, we aim to continue to drive growth within our ports business," said group chairman Gautam Adani.
The company's consolidated cargo clocked to 152 mmt in the last fiscal, up 5 percent from 144 mmt the previous year. The total income for 2015-16 was up by 16 percent at Rs.7,941 crore.
"Cargo volumes are likely to see 10-15 percent growth and corresponding 10-15 percent growth in profit after tax. With our expansion in capacity, we are well-positioned to capitalize on the growth in domestic Imports, Exports and the increased need for logistics infrastructure in India," said company CEO Karan Adani.
