 "Essar Ports Q2 profit at Rs 105 crore, up 9% annually")
Essar Ports reported a net profit of Rs 105 crore in the September quarter, up 9% from the same period last year on the back of higher revenues even as finance costs and total expenses moved higher in the period under review.
Revenues of the company stood at Rs 470 crore in the quarter gone by, up 8% from same period last year, while EBIDTA showed an increase of 5% on year-on-year basis to Rs 379.5 crore.
Finance cost of the company stood at Rs 189 crore in the period under review, up 11% from corresponding period last year, while expenses went up 8% to Rs 269 crore.
The billed traffic during the September quarter stood at 20.64 million tonne as against 17.70 million tonne in the same period last year, said the company in the release today.
"The company has consistently delivered results in line with expectations. We are on track for completing our capacity addition projects over the next few years. The emphasis continues to be on development of world class facilities and to complete the projects in hand in time," the release quoted Rajiv Agarwal, managing director of Essar Ports as saying.