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Essar Ports, part of the Essar group, reported a four per cent rise year-on-year in net profit at Rs 94 crore in the three months ended December, led by higher sales.
Net sales were up nine per cent year-on-year to Rs 398 crore in the period.
Earnings before interest, taxes, depreciation and amortisation increased by a tenth year-on-year to Rs 324 crore from Rs 295 crore. “Our financial results highlight the consistent performance we have shown over the past few years. In the coming quarters, we expect to handle higher cargoes driven by increased offtake from anchor customers and an increase in third-party cargo. Our focus is on completion of existing projects, which will double our volumes in the next two to three years," Managing Director Rajiv Agarwal said.
The company is expanding capacity at Paradip, Salai and Visakhapatnam and aims to take its total capacity to 181 million tonnes a year by FY17 from 104 mt at present. For Q3 FY14, the company's EBITDA increased by 10 percent to Rs 324.2 crore from Rs 294.9crore in Q3 FY13, it said.
