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APSEZ 's pre-tax profit surges 26pc to US$474 million
INDIAN terminal operator Adani Ports and Special Economic Zone (APSEZ) has posted 26 per cent rise in its pre-tax profit in the 2015/2016 fiscal year ending March 31.
The company's consolidated profit before tax rose to INR3,157 crore (US$474 million) in the fiscal year ended on March 31, 2016, up from 2,501 crore in the previous fiscal year, according to the London's Container Management.
Consolidated container volumes shot up 17 per cent year on year to 3.3 million TEU in the 2015/2016 fiscal year.
The company also recorded a five per cent increase in cargo volumes from 144 million to 152 million tonnes.
Said APSEZ chief executive Karan Adani: "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.
The port operator reported that following its acquisition of Kattupalli in late 2015, volumes at the terminal went up from 7,900 TEU per month in November 2015 to over 11,500 TEU per month in March this year.
The company also said that is expects the gradual ramp-up of CT4, a new container terminal at the Port of Mundra developed and operated by a 50:50 joint venture between APSEZ and CMA CGM's subsidiary CMA Terminals, to lead to a rise in container volumes at the port.
The company's consolidated profit before tax rose to INR3,157 crore (US$474 million) in the fiscal year ended on March 31, 2016, up from 2,501 crore in the previous fiscal year, according to the London's Container Management.
Consolidated container volumes shot up 17 per cent year on year to 3.3 million TEU in the 2015/2016 fiscal year.
The company also recorded a five per cent increase in cargo volumes from 144 million to 152 million tonnes.
Said APSEZ chief executive Karan Adani: "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.
The port operator reported that following its acquisition of Kattupalli in late 2015, volumes at the terminal went up from 7,900 TEU per month in November 2015 to over 11,500 TEU per month in March this year.
The company also said that is expects the gradual ramp-up of CT4, a new container terminal at the Port of Mundra developed and operated by a 50:50 joint venture between APSEZ and CMA CGM's subsidiary CMA Terminals, to lead to a rise in container volumes at the port.
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