 "Adani Ports Q2 net profit up 16% to Rs 667 crore")
For the first half of 2015-16, it posted a 15 per cent growth in profit after tax to Rs 1,308 crore, against Rs 1,142 crore in H1 FY15. Consolidated total income including other income for H1 FY16 up by 18 per cent at Rs 3,883 crore. Consolidated cargo across all ports handled by the company for H1FY16 increased by 10 per cent to 76 million tonne as against 69 million tonne in H1 FY15.
Adani ports at Mundra handled 57 mt cargo in H1FY16 thereby continuing its leadership as the largest commercial port in India. In case of containers, the Mundra port handled 1.48 million TEUs in H1FY16 as against 1.35 million TEU's in corresponding period last year resulting in a 10% growth as compared to growth of 2% aggregate growth in container volumes at all the major ports.
Sudipta Bhattacharya, chief executive officer of APSEZ, said "We continue to improve our mix of cargo across our ports. As we build out our pan India presence, we are also seeing the specific benefits of an increasingly diversified cargo mix that our ports are already handling. This positions us well to continue to capture market share across all types of cargo that are expected to grow as the Indian economy continues to expand."
Commenting on the results, Gautam Adani, chairman, Adani Group said "Our strategic intent is to continue to develop the port infrastructure along the Indian coastline and thereby benefit from the synergies this network brings to APSEZ. We are pleased to have added to our portfolio and signed the concession agreement for the development of the Vizhinjam International Deepwater Seaport with the Government of Kerala. This will give us access to the significant volume of global container traffic that goes past this region."
The company's shares ended down 0.03% at Rs 295.45 a share on the Bombay Stock Exchange in day's trade.