Indian terminal operator Adani Ports and Special Economic Zone (APSEZ) has recorded a 26% increase in its pre-tax profit in the 2015/2016 fiscal year.
The company’s consolidated profit before tax rose to 3,157 crore (US$474m) in the fiscal year ended on March 31, 2016, up from 2,501 crore (US$376m) in the previous fiscal year.
Consolidated container volumes went up by 17% year-on-year to 3.3m teu in the 2015/2016 fiscal year from 2.9m teu handled in the previous one.
The company also recorded a 5% increase in cargo volumes from 144m to 152m tonnes.
Karan Adani, CEO of APSEZ, said in a statement: “We will continue to look at improving our financial margins and operational efficiency, through a combination of enhanced use of technology, optimising our cargo mix and reducing our net finance cost.
“Our guidance for the next year, cargo volumes likely to see 10 % to 15 % growth and corresponding 10 % to 15 % growth in profit after tax. With our expansion in capacity, we are well-positioned to capitalise on the growth in domestic imports, exports and the increased need for logistics infrastructure in India.”
The port operator reported that following its acquisition of Kattupalli in late 2015, volumes at the terminal went up from 7,900 teu per month in November 2015 to over 11,500 teu per month in March this year.
The company said in a statement that is expects the gradual ramp-up of CT4, a new container terminal at the Port of Mundra developed and operated by a 50:50 joint venture between APSEZ and CMA CGM’s subsidiary CMA Terminals, to lead to a rise in container volumes at the port.
Source: Container Management
Source: Container Management