APSEZ profit up 8%

Total income for fourth quarter increased marginally to Rs 1,041.65 cr

Adani Group promoted Adani Ports and Special Economic Zone (APSEZ) Ltd has posted profit after tax (PAT) of Rs 528.35 crore for the quarter ended March 31, 2014, registering a nominal increase of 7.65% from corresponding period last fiscal.

The company had posted net profit of Rs 490.77 crore for the quarter ended March 31, 2013.

The total income for the fourth quarter increased marginally to Rs 1,041.65 crore compared to Rs 1031.16 crore for corresponding period last year.

For the year ended March 31, 2014 the company posted a profit after tax of Rs 2016.17 crore a rise of 14.93% against income of Rs 1,7541.18 crore in the same period previous fiscal. The total income for the year 2013-14 also rose to Rs 5025.53 crore from Rs 3,564.29 crore in 2012-13.

On the consolidated front the APSEZ Ltd net profit declined to Rs 529.80 crore for the quarter ended March 31, 2014 from Rs 710.31 crore for the corresponding quarter in FY13. However, total income rose to Rs 1288.78 crore for fourth quarter of 2013-14 from Rs 1081.69 crore is the same quarter last year.

APSEZ Ltd's net profit for year ended March 31, 2014 was Rs 1739.64 crore registering a marginal rise of 7%. In 2012-13 net profit of the company stood at Rs 1,623.22 crore.

According to the company total income for the year ended March 31, 2014 was Rs 5,507.62 crore as against Rs 3,841.07 crore year fiscal.

Commenting on the results, Gautam Adani, Chairman, APSEZ Ltd said, "It has been a proud year for us as Mundra Port is the first Indian commercial port to cross the 100 million tonne mark. We expect to continue our leadership in the sector and contribute towards Nation Building."

Chief Executive Officer of the company Sudipta Bhattacharya, said, "We had a robust year with growth on all fronts and improved margins. Our focus on integrated services, process efficiencies coupled with our customer focus will enable us to create significant value for all the stakeholders."

The Mundra Port handled 101.12 MMT cargo making it the largest commercial port in India. It registered a 23% growth in FY14 compared to growth of 2% for cargo at all major ports. In case of containers, it handled 2.39 million TEUs with 38% growth.