On a consolidated basis, Adani Ports And Special Economic Zone (APSEZ)'s net profit declined 4.4% to Rs 1356.43 crore in Q3 December 2019 as against Rs 1418.93 crore reported in Q3 December 2018.
Total income rose 20.88% to Rs 3830.43 crore in Q3 2019 over Q3 2018. The earnings were declared during market hours today, 4 February 2020.
Profit before tax (PBT) for Q3 December 2019 stood at Rs 1739.03 crore, down by 4.5% from Rs 1820.91 crore reported in Q3 December 2018. Current tax expense rose 41.14% to Rs 270.36 crore in Q3 2019 as against Rs 191.56 crore reported in Q3 2018.
Operating Revenue registered a growth of 18% at Rs 3,336 crore in Q3FY20 as against Rs 2824 crore reported in Q3FY19.
Consolidated EBITDA jumped 24% YoY to Rs 2287 crore in Q3 December 2019. EBITDA margin improved to 69% in Q3 December 2019 from 65% reported in Q3 December 2018.
In Q3FY20, seven new container services were added, five at Mundra and one each at Ennore, Hazira. The incremental container volume on account of these additional services will be approximately 4,00,000 TEUs annually. APSEZ reported a 5% rise in consolidated cargo volume at 56 MMT in Q3 2019 over Q3 2018.
Commenting on company's Q3 performance, Karan Adani, Chief Executive Officer and Whole Time Director of APSEZ said, APSEZ with its pan India presence has been continuously outperforming Indian cargo volume growth. Our focus on diversifying cargo mix continues. Gas (LNG, LPG) being the newest commodity added this quarter to the cargo basket. In FY20, we expect to achieve cargo volume of 224-226 MMT, Revenue growth of around 13% and EBIDTA growth of around 14%. We continue to focus on Environment Social and Governance. Efficient use of water and energy from cleaner sources, reduction of emission levels and zero tolerance for fatalities at our ports continue to be our top priorities.
APSEZ, a part of globally diversified Adani Group, is the largest port developer and operator in India.
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Shares of APSEZ closed 1.28% higher at Rs 372.6 on BSE. The stock traded in the range of 375.9 and 366.2 in the intraday.
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