| Code: 50910 |

TIN news:       Adani Ports and Special Economic Zone (APSEZ) announced consolidated results for the fourth quarter ended March 2015. Company’s consolidated net profit increased by 25 per cent to Rs661 crore against Rs530 crore in the corresponding quarter last year, the company informed.
 
Consolidated total income increased by 42 per cent to Rs1,832 crore for the quarter ended March 2015 against Rs1,291 crore in the corresponding quarter a year ago. “Consolidated EBIDTA increased by 49 per cent to Rs1,247 crore in the current quarter as compared to Rs836 crore in corresponding quarter last year,” the company informed in a statement.
 
Commenting on the results, Gautam Adani, Chairman, Adani Group said, “We have created additional future pathways for growth for our APSEZ business and as the opportunities in Indian port sector rapidly multiply in the days to come we believe we are well positioned to capture the growth and capitalise on our model of integrated business”.
 
Elaborating on the performance, Sudipta Bhattacharya, Chief Executive Officer of APSEZ, said, “The company has had another record year. We accelerated our growth and grew our cargo volumes by 28 per cent and net profit by 33 per cent. This year we also completed the Dhamra Port acquisition, commercialized the Tuna Port in record time and signed a 50:50 JV with CMA Terminals to build a brand new container terminal at Mundra.”
 
For the financial year, 2014-15, APSEZ posted consolidated net profit of Rs2,314 crores up 33 per cent from Rs1,740 crores in corresponding period last year. The consolidated total income for the year increased by 24 per cent to Rs6,838 crores in fiscal 2014-15, as compared to Rs5,514 crores in the corresponding period last year.
 
The consolidated EBIDTA was up by 27 per cent to Rs4,588 crores in the current year as compared to Rs3,604 crores in corresponding period last year.
 
The Board of Directors of the company has recommended a dividend of 55 per cent i.e Rs1.10 per equity share for the fiscal 2014-15.

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