Coal news and updates

Adani Ports & SEZ Q1 net profit up 36% y-o-y

August 6: Adani Ports & Special Economic Zone (APSEZ) reported a 36% increase in net profit to Rs 568 crore for the April-June quarter (Q1) of 2014-15 against Rs 418 crore reported in the corresponding quarter last year, the company said in a statement.

The company’s consolidated total income including other income for 2014-15 stood at Rs 1,430 crore.

During the quarter under review, consolidated cargo handled by the company was at 33.83 million tons (mt), up 27% over the corresponding quarter last year while in Mundra Port, cargo handling stood at 28.86 mt in the quarter under review, the company statement said.

“The acquisition of Dhamra Port was also completed in Q1 of 2014-15 and it handled 4.20 mt cargo during Q1 of 2014-15, a growth of 36% over the corresponding quarter last year. The capacity expansion work is already in progress. Also, Dahej Port volumes grew by 28% and Hazira port volumes increased by 85% on a y-o-y basis,”  the statement said.