Adani Ports and Special Economic Zone Ltd, India’s largest port developer and part of Adani Group, announced the financial results for the quarter and nine months ended 31 December 2015.
Consolidated total income including other income increased by 15% to Rs.5779 crores in 9MFY16 and the consolidated EBIDTA excluding other income increased by 22% to Rs.3421 crores in the current nine months.
Consolidated total income increased by 11% to Rs.1896 crores in 3Q16 and the consolidated EBIDTA excluding other income increased by 15% to Rs. 1071 crores in the current quarter.
The consolidated PAT for 9MFY16 increased by 18% to Rs 1953 crores and in Q3FY16 increased by 26% to Rs 645 crores.
Mr. Gautam Adani, Chairman, Adani Group, said: “We have made our footprints at 10 locations on the Indian coastline. While we look to continue our impressive growth in ports, we would now also look to the development of industrial clusters and end-to-end logistics in a big way thereby becoming a fully integrated logistics player”.
Mr. Karan Adani, CEO of APSEZ, commented: “A new chapter has begun in our ports business, with a great responsibility on my shoulders. 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”.
Edited from press release by Angharad Lock