 "Adani Ports Q1 net jumps 36% at Rs 568 crore")
The company's net profit in the corresponding quarter of the last fiscal was Rs 417.50 crore, Adani Ports and Special Economic Zone said in a filing to the BSE.
"We had a robust quarter with growth of all major cargo categories and we continue to maintain our EBIDTA margins at a high level of 70% in our port business," APSEZ Chief Executive Officer Sudipta Bhattacharya said,
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However, total income decreased to Rs 1,261.64 crore, over Rs 1,478.41 crore in the same period of FY'14, the filing said.
Adani Ports handled 33.83 million tonnes of cargo on consolidated basis during the quarter, up 27% from the corresponding quarter of last fiscal.
Consolidated cargo includes volumes from Mundra Port and its ports at Hazira and Dahej.
Adani Group Chairman Gautam Adani said, "the results are a validation of our strategy as we continue to show growth significantly faster...The acquisition of the Dharma port and the JV with CMA CGM will further augment our organic growth rates."
Total expenditure of the company declined to Rs 615.85 crore, over Rs 773.36 crore in the corresponding quarter of the previous fiscal.
The company's other income rose 88.4% year-on -year at Rs 168.74 crore against Rs 89.56 crore.
The company said that acquisition of Dharma port was completed in the Q1FY15 and it handled 4.20 million metric tonnes (MMT) cargo during the quarter, registering a growth of 36% over the corresponding period of last fiscal, adding that the capacity expansion work in already in progress.
Dahej port volumes also increased by 28% and Hazira port volumes increased by 85% on a Y-o-Y basis.