APSEZ consolidated PAT up 38%

The consolidated total income rose 18% at Rs 2,162 crore

India's largest port developer and part of Adani Group, Adani Ports and Special Economic Zone Limited (APSEZ), posted a 38 per cent jump in consolidated PAT for Q4 FY16 to Rs 914 crore over Rs 661 crore in the same quarter last year as its consolidated total income rose 18 per cent at Rs 2,162 crore in Q4 FY16.

For the full year FY16, consolidated total income increased by 16 per cent to Rs 7,941 crore, while consolidated PAT rose 24 per cent to Rs 2,867 crore vs Rs 2,314 crore in FY15.

Consolidated cargo across all ports handled by the company was 152 million tonnes (mt) in FY16, an increase of 5 per cent, over corresponding period last year, including 3.35 million TEUs, up 17 per cent from 2.87 million TEUs last year. Consolidated cargo for Q4 FY16 stood at 37 mt thereby continuing its leadership as the single largest commercial port in India.

"Our strategy continues to bear fruit, 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, 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," said Gautam Adani, chairman, Adani Group.

"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. With our expansion in capacity," said Karan Adani, CEO, APSEZ.