Adani Ports and Special Economic Zone Ltd (APSEZ) on Tuesday announced a standalone net profit of Rs 566 crore for the quarter ended March 31, 2016, marginally up from Rs 554.47 crore in the same period last year.
The company's total standalone income from operations stood at Rs 945.67 crore against Rs 960.28 crore in the corresponding quarter a year ago.
For the financial year ended March 31, 2016, APSEZ posted a net profit of Rs 2,841.58 crore as against Rs 2,183.14 crore in the previous year, showing a growth of 30 per cent. Total standalone income for the fiscal 2015-16 stood at Rs 4,630.75 crore as against Rs 3,909.36 crore.
At the board meeting held on Tuesday, the company announced a 38 per cent jump in consolidated net profit for the March quarter at Rs 914.06 crore as against Rs 660.73 crore reported in the corresponding quarter a year ago. Total consolidated income stood at Rs 1,947.20 crore against Rs 1,681.19 crore for the March quarter.
Consolidated net profit for the quarter ended March stood at Rs 2,867.36 crore against Rs 2,314.33 crore, a growth of 22 per cent year-on-year. Consolidated total income stood at Rs 7,255.73 crore against Rs 6,151.98 crore last year.
"We will continue to look at improving our financial margins and operational efficiency through a combination of enhanced use of technology, optimising our cargo mix and reducing our net finance cost. Our guidance for the next year, cargo volumes are likely to see a 10 to 15 per cent growth and a corresponding 10 to 15 per cent growth in profit after tax. With expansion in capacity, we are well-positioned to capitalise on the growth in domestic imports, exports and the increased need for logistics infrastructure in India,” said Karan Adani, CEO, APSEZ.
APSEZ shares ended marginally down at Rs 232.70 on the National Stock Exchange on Tuesday.