Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest port developer and the logistics arm of the Adani Group, has registered increased volume and profit for Q3 FY18 compared to Q3 FY17.
Q3 FY18 Financial Highlights
Consolidated income from operations increased by 22 per cent to Rs 2,689 crore in Q3 FY18 from Rs 2,209 crore in Q3 FY17.
Consolidated operating EBITDA increased by 46 per cent to Rs1,967 crore in Q3 FY18 from Rs1,344 crore in Q3 FY17.
Consolidated PBT increased by 48 per cent to Rs1,439 crore in Q3 FY18 from Rs 969 crore in Q3 FY17.
Consolidated Profit after Tax increased by 18 per cent to Rs 994 crore – EPS of Rs 4.80.
Operational Highlights for Q3FY18
In Q3 FY18, APSEZ handled cargo of 47.61 MMT with a growth of 16 per cent.
While container volumes grew by 29 per cent, coal volumes also grew by 13 per cent and crude volumes by 10 per cent.
The larger ports continue to register growth in overall cargo volumes. Mundra, the largest port of APSEZ, grew by 17 per cent, Hazira grew by 9 per cent and Kattupalli by 45 per cent.
Cargo growth in Q3 FY18 was 11 per cent higher than Q2 FY18.
9M FY18 Financial Highlights
Consolidated income from operations increased by 31 per cent to Rs 8,140 crore in 9M FY18 from Rs 6,208 crore in 9M FY17.
Consolidated Operating EBITDA increased by 32 per cent to Rs 5,351 crore in 9M FY18 from Rs 4,055 crore in 9M FY17.
Consolidated PBT increased by 30 per cent to Rs 3,909 crore in 9M FY18 from Rs 3,006 crore in 9M FY17.
Consolidated Profit after Tax was Rs 2,745 crore – EPS of Rs 13.26. The Profit after Tax would have been higher but for higher tax incidence to Rs 1,148 crore in 9M FY18 from Rs 275 crore in 9M FY17. This is because Mundra Port has come out of tax holiday period. However, from cash flow angle there is no incremental impact as company has MAT credit entitlement of Rs 2,700 crore.
Operational Highlights for 9M FY18
Handled cargo of 134.56 MMT, a growth of 7 per cent.
Container volumes grew by 22 per cent.
Agri products grew by 30 per cent, chemicals by 18 per cent and minerals by 14 per cent.
The larger ports continue to register growth in overall cargo volumes. Mundra grew by 8 per cent, Hazira by 10 per cent and Kattupalli by 33 per cent.
Mr Karan Adani, Chief Executive Officer and Whole Time Director of APSEZ, said, “Cargo volumes growth in Q3 FY18 rebounded after a tepid Q2 FY18. This growth was led by all-round double-digit growth in all major cargo that we handle. We foresee continued uptick in cargo volumes in India. While western ports in India will continue to grow, we are confident of exponential cargo volume growth in eastern and southern coasts of India. We would continue to increase our footprints in the logistics space. This will further improve our port to hinterland connectivity. We would thus aim to become a truly fully integrated player providing end-to-end service to our customers. We are progressing towards achieving an operating income of Rs 10,000 crore in FY18 which will be another milestone in the history of APSEZ.”
