Adani Ports and Special Economic Zone Ltd reported a growth of 38.3 per cent in it’s consolidated net profit after taxes (PAT) at Rs 914.06 crore for the fourth quarter ended March 31, 2016, supported by rise in revenue from operations.
“The consolidated net profit of the Adani Group arm stood at Rs 660.73 crore during the same period a year ago,” Adani Ports and Special Economic Zone Ltd said in a filing to the BSE.
Further, the consolidated total income of the company increased 18 per cent at Rs 2,161.65 crore during Q4 FY 16, as compared to Rs 1,831.85 crore in the same quarter last year.
During the quarter under review, total expenditure of the India’s largest port developer, however, rose to Rs 977.88 crore, as against Rs 832.91 crore in Q4 FY 15.
Consolidated cargo for Q4 FY16 stood at 37 MMT thereby continuing its leadership as the single largest commercial port in India, it said in a statement.
Commenting on the performance, Adani Group, Chairman, Gautam Adani said, “Our strategy continues to bear fruit, with total operating income for the first time exceeding the US$ 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, as well as look to the further development of industrial clusters and full-service logistics, with the ultimate goal of building a fully integrated logistics player of significant scale.”
Speaking on the results, APSEZ, CEO, Karan Adani said, “Our guidance for the next year, cargo volumes likely to see 10 per cent to 15 per cent growth and corresponding 10 per cent to 15 per cent growth in profit after tax.”
For the full year, it has posted a net profit of Rs 2,867.36 crore for the year ended March 31, 2016 as compared to Rs 2,314.33 crore for the year ended March 31, 2015. It’s total income has increased from Rs 6,837.62 crore for the year ended March 31, 2015 to Rs 7,940.55 crore for the year ended March 31, 2016.
Despite earnings, shares of the company were trading at Rs 213 apiece, down 9.71 per cent, from previous close on BSE at 12:25 hours.