Adani Ports & SEZ Ltd (APSEZL) on Monday reported an increase of 26% in standalone income and 19% in net profit in the fiscal ended March 31, 2012, as compared to the corresponding period in the previous financial year.

While the income stood at Rs 2525 crore (Rs 2008 crore), the net profit was Rs 1177 crore (Rs 986 crore), the company said here in a statement.

Its consolidated total income rose 58% to Rs.3330 crore (Rs.2110 crore) and consolidated net profit by 20% to Rs.1102 crore (Rs.918 crore).

On Monday, the share price of APSEZL at the BSE closed at Rs 114.45, down 5.41%.

The company’s board of directors has recommended a final dividend of Re 0.70 per share i.e. 35% on the equity shares of Rs 2 each. This, combined with the interim dividend of 15%, takes the total dividend to 50%, up from 45% in last year.

The cargo handled by the company at its Adani ports increased by 24% to 64.01 million metric tons (MMT), making it the 4th largest commercial port in India.

Mr B Ravi, Chief Financial Officer, said the growth in cargo was 24% at the Adani Port while there was de-growth of 2% in all other major ports put together. The company also increased its market share to over 10.3%, up by 2%.

The container side the company 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%, he said.

The company raised $1.25 billion in a non-recourse funding from a group of Australian and Asian lenders and also raised $800 million funding at the holding company to help refinance a $2 billion acquisition loan.

Related Topics