Adani Ports clocks 58 pc jump in H1 net profit at Rs 2,055 crore

Adani Ports and Special Economic Zone (APSEZ) Limited on Monday reported 58 per cent jump in its net profit during the April to September period to Rs 2,055 crore, up 58 per cent from Rs 1,296 crore in the corresponding period of previous year.

Adani Ports and Special Economic Zone (APSEZ) Limited on Monday reported 58 per cent jump in its net profit during the April to September period to Rs 2,055 crore, up 58 per cent from Rs 1,296 crore in the corresponding period of previous year. Profit before tax increased by 31 per cent from Rs1,722 crore in H1 FY19 to Rs 2,248 crore in H1 FY20.

Increased cargo volume and the ability to maintain realisation enabled core earnings before interest, tax, depreciation and amortisation (EBITDA) to grow by 10 per cent from Rs 3,292 crore to Rs3,634 crore while EBITDA margins were at 65 per cent in H1 FY20 compared to 66 per cent in H1 FY19. Total revenue on a year-on-year basis grew by 12 per cent from Rs 5,019 crore in H1 FY19 to Rs 5,616 crore in H1 FY20. This was primarily on account of port revenue increasing by 13 per cent and revenue from logistic operations increasing by 43 per cent.

"APSEZ continues to gain market share due to the strategy of having multi-commodity ports across key locations. Our market share in H1 FY20 has increased by 100 basis points to 22 per cent of all India cargo volume and to 35 per cent of all India container volume," said Chief Executive Officer and Whole Time Director Karan Adani. He said though Q2 of FY20 was subdued, container volume continues to be strong. "We expect H2 FY20 to be better and confident of achieving 224 to 228 million tonnes of cargo throughput in FY20," he said in a statement.

APSEZ has 10 port concessions around the country at varying stages of development. It is the largest port developer and operator in India when measured by volume with coal and other dry bulk terminals showing an annual capacity of 378 million tonnes. (ANI)

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)