Armed with robust growth on all fronts, improved margins and service levels, process efficiencies and customised solutions, Adani Ports and SEZ Ltd on Wednesday reported a 49 per cent increase in net profit and a 41 per cent rise in revenue on a standalone basis in 2012-13, ended March 31, compared with last fiscal.
While the company’s profit after tax (PAT) was Rs 1,754 crore (Rs 1,177 crore), revenues stood at Rs 3,564 crore (Rs 2,522 crore), the company said here.
It has recommended a dividend of 50 per cent, at Re 1 an equity share for 2012-13, said Gautam Adani, Chairman.
On a consolidated basis, Adani Port’s revenues were Rs 3,841 crore (Rs 2,749 crore) and PAT Rs 1,608 crore (Rs 1,117 crore), an increase of 40 per cent and 44 per cent, respectively. The consolidated PAT after Abbot Point divestment stood at Rs 1,623 crore (Rs 1,102 crore), an increase of 47 per cent.
In the fourth quarter of 2012-13, revenues increased by 58 per cent to Rs 1,031 crore (Rs 652 crore) and PAT by 45 per cent to Rs 491 crore (Rs 339 crore) on a standalone basis. On a consolidated basis, revenues increased by 54 per cent to Rs 1,082 crore (Rs 704 crore) and PAT by 44 per cent to Rs 440 crore (Rs 305 crore). The consolidated PAT after Abbot Point adjustment increased by 197 per cent to Rs 710 crore (Rs 239 crore).
About the Abbot Point, the company said the independent valuation of this investment, according to the instructions of the independent directors, has been done. Though the valuation was at a price below the investment value, the promoters have accepted to pay the full investment value of A$235.71 million. The divestment of investments (subject to certain approvals to be received) resulted in a gain of Rs 70 crore on a standalone basis and Rs 420 crore on a consolidated basis. The accounts of Abbot Point have not been consolidated with the company.
Divestment of the port at Abbot Point, Australia, will give a further fillip to its growth plans, Adani said.
The Dahej port witnessed a four-fold increase in cargo handled at 7.56 million tonnes (2.14 mt ).
Adani Ports, the second largest commercial port in India, handled 82.13 million tonnes of cargo and 1.74 million TEUs (twenty-foot equivalent units) container volume with 21 per cent growth and 14 per cent growth, respectively, in FY13, compared to a contraction of 3 per cent for cargo and 1 per cent for container volume at all other ports, the company said. It also became India’s topmost coal handling port with 26.76 mt in 2012-13.
virendra.pandit@thehindu.co.in