Coal news and updates

APSEZ consolidated net increases 33% in FY15

May 4: Adani Ports and Special Economic Zone Limited (APSEZ), part of the Adani Group, reported a consolidated net profit of Rs 2,314.33 crore, up 33% from 1,739.64 crore earned in the previous fiscal, the company said in a filing to the BSE on May 2.
During FY15, consolidate cargo handling across all ports stood at 144 million tons (mt), up 28% from 113 mt handled in FY15, the company said in a statement.

Adani Ports at Mundra handled 111 mt cargo in FY15, thereby continuing its leadership as the largest commercial port business in India, the company added.

Consolidated total income by APSEZ increased by 24% to Rs 6,838 crore in FY15 as compared to Rs 5,514 crore in the corresponding period last year.

In the final quarter of FY15, APSEZ reported almost 25% increase in consolidated net profit to Rs 660.73 crore against a net profit of Rs 529.80 crore reported in the same quarter of the previous fiscal.

During the quarter under review, consolidated cargo handling by APSEZ stood at 36 mt in the final quarter of FY15, up 26% over the corresponding quarter last year while cargo handling by Mundra Port during the quarter stood at 27 mt.

“We have created additional future pathways for growth for our APSEZ business and as the opportunities in the Indian port sector rapidly multiply in the days to come we believe we are well positioned to capture the growth and capitalise on our model of integrated business,” said Gautam Adani, Chairman, Adani Group.