Adani Ports PAT Grows By 61 % in Q2 FY17

AHMEDABAD: Adani Ports and Special Economic Zone Limited (“APSEZ&rdquoblink1.gif, India’s largest port developer and the logistics arm of Adani Group, announced another stellar operational and financial performance for the quarter and half year ended September 30, 2016.

Q2 FY 17 Highlights:

•             Consolidated Operating Income registered a growth of 21% from Rs. 1808 cr in Q2FY16 to Rs. 2183 cr in Q2 FY17.

•             Consolidated EBITDA increased by 23% from Rs. 1178 cr in Q2FY16 to Rs. 1451 cr in Q2FY17.

•             EBITDA margin expands by 100 BPS in Q2FY17 (from 65% in Q2FY16 to 66% in Q2FY17).

•             Profit after Tax grew by 61% from Rs. 678 cr in Q2FY16 to Rs. 1091 cr in Q2FY17.

•             EPS for Q2 FY17 was Rs. 5.26

•             In Q2 FY17, APSEZ handled Cargo of 43 MMT, a growth of 17 % Y o Y.

H1 FY 17 Highlights:

•             Consolidated Operating Income  registered a growth of 14% from Rs. 3523 cr in H1FY16 to Rs. 4010 cr in H1 FY17.

•             Consolidated EBITDA increased by 14% from Rs.2295 cr to Rs. 2621 cr in H1FY17.

•             EBITDA margins maintained at 65 %in H1 FY17.

•             Profit after Tax grew by 46 % from Rs. 1321 cr in H1FY16 to 1927 cr in H1FY17.

•             EPS for the first half of FY17 was Rs. 9.30.

•             In H1 FY17, APSEZ handled Cargo of 85 MMT, a growth of 12 % Y o Y.

Mr. Karan Adani, Chief Executive Officer of APSEZ said, “Healthy growth in cargo volumes, operational efficiencies and our efforts to change the mix of bulk cargo beyond coal has enabled us to report all-round growth in our financial numbers. With Make in India scheme of Govt of India likely to take off in the near future, our SEZ monetization is expected to gain momentum. Implementation of GST will help our Logistic arm to expand further.

With our port to Hinterland connectivity further improving we would be truly a fully integrated player providing end to end service to our customers. This will result in higher volume and financial growth”

Source: Dailyshippingtimes.com