Adani Ports & SEZ profitability increases by 16.38 % Y-o-Y basis in Q2FY16

Adani Ports & SEZ (APSEZ) declared Q2FY16 results, today. The company's consolidated revenue increased by 11.31 per cent to Rs 1842 crore in Q2FY16 as compared to same period in previous financial year. The company's cargo division witnessed four per cent growth to 36 MMT (Million Metric Tonne) in Q2FY16 on yearly basis. Its total expenditure increased by 5.38 per cent to Rs 637 crore in Q2FY16 on yearly basis. However, APSEZ operating expenses reduced by 8.07 per cent to Rs 417 crore in Q2FY16 as compared to same period in previous fiscal year.

APSEZ's EBITDA increased by 14.72 per cent to Rs 1205 crore in Q2FY16 as compared to same period in previous financial year. The company's EBITDA margin expanded by 194 basis points to 65.41 per cent in Q2FY16 on yearly basis. Its PBT increased by 9.93 per cent to Rs 709 crore in Q2FY16 on yearly basis as interest expense reduced by 4.99 per cent to Rs 364 crore during the quarter. APSEZ's other income decreased by 31.63 per cent to Rs 143.64 crore in Q2FY16 as compared to same period in previous financial year. The company's net profit increased by 16.38 per cent to Rs 667.46 crore in Q2FY16 on yearly basis. Its net profit margin 158 basis points to 36.23 per cent in Q2FY16 on yearly basis.

APSEZ's consolidated cargo for H1FY16 increased by 10 per cent to 76 MMT as against 69 MMT in H1FY15. The company's total income including other income for H1FY16 up by 18 per cent to Rs 3883 crores. It's PAT increased by 15 per cent to Rs 1308 crore inH1FY16 on yearly basis.

APSEZ's Mundra port handled 57 MMT cargo in H1FY16. In case of containers, the Mundra port handled 1.48 million TEUs (twenty-foot equivalent units) in H1FY16 as against 1.35 million TEU’s in corresponding period last year resulting in a 10 per cent growth as compared to growth of 2 per cent aggregate growth in container volumes at all the major ports. Its twin ports of Hazira and Dahej handled cargo of 9.88 MMT in H1FY16 with a growth of 8 per cent.

APSEZ signed concession agreement for development of Vizhinjam Port. The company also signed Memorandum of Understanding (MOU) with L&T Shipbuilding for Kattupalli Port operations in the state of Tamil Nadu.

APSEZ's shareholding pattern indicates that FII holdings expanded by 831 basis points to 33.18 per cent while DII holdings contracted by 724 basis points to 5.09 per cent during September 2015 quarter. The share price of the company increased by 2.4 per cent on bourses and closed at Rs 295.45 on November 02, 2015.

APSEZ is in the business of providing infrastructural facilities. The Company is primarily involved in the business of developing, operating and maintaining the port and port-based related infrastructure services, including multi product special economic zone at port location. Its segments include Port and Special Economic Zone activities and others.