Adani Ports Q3 PAT up 26% at Rs 645 cr, as income rises 11%

9-mth PAT up 18% to Rs 1,953 cr; firm starts construction at Vizhinjam Port, enters agreement for acquiring Kattupalli Port during the quarter

Adani Ports and Special Economic Zone (APSEZ), part of the $10 billion Adani Group, has posted a 26 per cent rise in consolidated profit after tax (PAT) for the quarter ended December 31, 2015, to Rs 645 crore, as the company's consolidated total income rose 11 per cent during the quarter on a year on year basis to Rs 1,896 crore. The firm's PAT in  the corresponding quarter a year ago was Rs 512 crore.

Consolidated EBIDTA excluding other income was up 15 per cent, and margin was up from 60 per cent to 62 per cent, the company said in a statement.

 

For the nine-month period ended December 2015, the company's consolidated total income including other income went up by 15 per cent at Rs 5,779 crore, while the consolidated PAT increased by 18 per cent to Rs 1,953 crore as against Rs 1,654 crore in 9MFY15.

During the quarter, the company commenced construction work at Vizhinjam Port and entered into an in-principle agreement for strategic acquisition of the Kattupalli Port in Tamil Nadu with L&T Shipbuilding Limited.

Karan Adani, chief executive officer of APSEZ, said "We are focusing on improving top line and bottom line of the company by improving operational efficiency through use of technology, better cargo mix and by bringing down net finance cost."

The company's share ended 5.2 per cent lower at Rs 178.70 per share on the BSE today.