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APSEZ registers
strong operational & financial performance in Q3 FY19
Adani Ports and
Special Economic Zone Ltd (APSEZ), India’s largest port developer, operator
and the logistics arm of the Adani Group, has shown impressive overall
performance for Q3 and the nine months ended December 31, 2018, as per a
release.
Consolidated
financial highlights for Q3FY19: - (YoY)
* Revenue:
Revenue grew by 5 per cent to Rs 2,824 crore in Q3FY19 from Rs
2,689 crore in Q3FY18.
* EBITDA
(excluding forex loss/gain): EBITDA grew by 3 per cent to Rs
1, 843 crore in Q3FY19 from Rs 1,784 crore in Q3FY18. EBITDA margin was 65 per
cent.
* PBT and PAT:
PBT in Q3FY19 grew by 27 per cent to Rs 1,821 crore PAT in Q3FY19 grew by 42 per
cent to Rs 1,410 crore from Rs 994 crore in Q3FY18.
Consolidated
financial highlights for 9MFY19: (YoY)
* Revenue:
Revenue was lower by 4 per cent. The same was on account of lower SEZ port led
development income (Rs 409 crore in 9MFY19 v/s Rs 1,643 crorein 9MFY18).
* EBITDA
(excluding forex loss/gain): In spite of 14 per cent cargo volume growth,
EBITDA was lower by 2 per cent on account of forex loss and lower SEZ port-led
development EBITDA (forex loss of Rs 585 crore in 9MFY19 v/s gain of Rs 137
crore in 9MFY18 and SEZ EBITDA of Rs 330 crore in 9MFY19 v/s Rs 1,208 crore in
9MFY18). EBITDA margin has improved by 100 BPS to 65 per cent due lower
operating expenses.
* PBT and PAT: PBT
on a YoY basis for 9M FY19 was lower by 9 per cent due to forex loss (Rs 585
crore loss in 9MFY19 v/s gain of Rs 137 crore for 9MFY18). PAT for 9MFY19 was at
Rs 2,706 crore v/s Rs 2,745 crore in 9MFY18.
Operational
Highlights - Q3FY19 (YoY)
* Cargo volume grew
by 12 per cent.
* Ports
across all regions reported strong growth. While, Mundra—the flag ship port of
APSEZ grew by 6 per cent, Hazira and Dahej grew by 15 per cent and 20 per cent,
respectively. The eastern port of Dhamra registered a growth of 9 per cent.
* Commercial
operations at Ennore Port (Chennai) commenced and it handled 24,000 TEUs in the
quarter.
* All segments of
cargo registered significant growth. While coal grew by 11 per cent, container
grew by 9 per cent. Bulk cargo other than coal also registered a growth of 10
per cent.
Operational
Highlights - 9MFY19 (YoY)
* Cargo volume grew
by 14 per cent.
* Mundra—the
flag ship port of APSEZ grew by 10 per cent and handled more than 100 MMT.
Hazira grew by 20 per cent and Dahej grew by 30 per cent. Kattupalli in south
India registered 18 per cent growth. Cargo volume across our four terminals
located in Major Ports, namely, Tuna, Goa, Vizag and Ennore continue to grow
exponentially. These ports handled more than 9 MMT of cargo in 9MFY19.
* All types of cargo
registered significant growth. While coal grew by 12 per cent, container grew by
13 per cent.
Mr Karan Adani, Chief Executive Officer and
Wholetime Director of APSEZ, said, "The
results once again proves our capability to be resilient, register incremental
growth and gain market share. In fact, all types of cargo, namely, coal,
container, crude and other bulk have shown double-digit growth in 9MFY19. We
will continue our strategy to diversify cargo mix and continuously add economic
hinterland reach.
"The trend registered in Q3FY19 is
likely to continue and we are set to exceed our earlier guided cargo volume of
200 MMT in FY19. Sweating of our existing
capacities, change in cargo mix, automation and technology upgradation will
further improve our EBITDA and free cash flows. We believe sustainable
development as a core value for our future business proofing. We will continue
to protect our environment, use safe operational practices and adopt best
corporate policies."
Source : Exim
News Service - Ahmedabad, Feb. 10
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