APSEZ handles 82 mn t cargo

Adani Ports and Special Economic Zone (APSEZ) handled
82.13 million tonne (mn t) cargo in 2012-13, a growth of 21 percent from the previous year.

During January-March, APSEZ handled 22.89 mn t cargo, an increase of 38 percent over the same period last year. This growth was driven by container and bulk (mainly crude and coal) volumes.

The firm posted 42 percent growth in its revenue at Rs 915 crore during Jan-Mar 2013. This also includes other operating income, which increased at a much faster pace boosting overall revenue growth.

Operating profit margin of the firm, however, declined about 160 basis points to 70 percent because of higher operating and other expenses.

Owing to robust growth in other income, earnings before interest, tax, depreciation and amortization (Ebitda) level performance looks good but higher interest expenses resulted in relatively slower growth at the net level. The firm announced 45 percent rise in net profit at Rs 491 crore.

As on March 31, 2013, APSEZÂ’s consolidated debt (long-term borrowings plus short-term borrowings) dropped to Rs 10,662 crore from Rs 19,466 crore as on September 30, 2012.