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The Adani Group company Mundra Port and SEZ Ltd (MPSEZL) on Thursday reported an increase of 27 per cent in total income and 20 per cent in net profit in the first quarter ended June 30 of fiscal 2012, compared to the corresponding quarter of the last fiscal.
While total income was Rs 530 crore (Rs 416 crore), PAT stood at Rs 254 crore (Rs 211 crore), said Mr B. Ravi, Chief Financial Officer (CFO).
On Thursday, MPSEZL's share price at the BSE closed 2.59 per cent down at Rs 138.95.
During the quarter, the company completed acquisition of Abbot Point Coal Terminal in Australia. It emerged as the fifth largest commercial port in India, and started the country's first Python train, a long-haul train (1.3 km long), from Mundra Port and achieved a record coal discharge of 90,000 tons in a day, he added.
MPSEZL handled 15.08 million tons (MT) of cargo in the quarter, the highest ever in a quarter. While other ports grew 5 per cent in the first quarter, MPSEZL registered a 20 per cent growth, boosted by higher bulk/container business, Mr Ravi said. The expansions at Mundra as well as new port development at Hazira, Goa and Visakhapatnam are on schedule which would, in aggregate, add additional cargo handling capacity of about 115 mt, taking the total capacity to 300 mt by 2013, including Abbot Point.
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