AHMEDABAD: Adani Ports & SEZ Limited (APSEZ) reported 20% rise in its net profit to INR 1,102 crore for the fiscal 2011-12. Its total income rose by 58% to INR 3,330 crore for the year ended March 31, 2012 compared to INR 2,110 crore in the previous year.
APSEZ's flagship Mundra Port handled 64.01 million tonnes of cargo during 2011-12 registering an increase of 24%.
APSEZ is claiming to have emerged as fourth largest port in India, up from seventh position.
APSEZ Chairman Mr. Gautam Adani said, "The robust performance of our ports business is a testimony of our expertise in creating world class infrastructure and helping us becoming a global force.
Based on our performance, I have no hesitation in saying that Adani Ports will soon become India's number one commercial port.”
Its consolidated cargo movement stood at 77.75 million tonnes. Soon, it is aiming to surpass country's largest Kandla Port in terms of volumes.
On the container side, the company has outperformed other container ports by registering a 24% growth compared to 3% growth at other container terminals. Adani Ports' market share has risen to 16.4%, up by 2.4%.
APSEZ owns and operates three ports Mundra and Dahej in India and Abbot Point in Australia. It is also developing ports at Hazira, Mormugao, Visakhapatnam and Kandla in India and Dudgeon Point in Australia. Our aim is to increase our annual cargo handling capacity to 200 Million Metric Tonnes (MMT) by 2020.
APSEZ Chief Financial Officer (CFO) Mr. B Ravi said, "The growth in cargo is 24% in Adani Ports while there was de-growth of 2% in all other major ports put together. The company also increases its market share to over 10.3%, up by 2%."
APSEZ board has recommended a final dividend of INR 0.70 per share, 35% on the equity shares of INR 2 each. This, combined with the interim dividend of 15%, takes the total dividend to 50%, up from 45% in last year, read the company statement.
During the period under review, APSEZ received a letter of intent from the Kandla Port Trust to set up a dry bulk terminal at the Kandla Port on build, operate and transfer basis.
The expansion at Mundra as well new port development at Hazira, Goa and Visakhapatnam are on schedule which in aggregate would add additional cargo handling capacity of about 100 million tonnes.
