With its consolidated cargo growing by 17%, India’s largest port developer Adani Ports and SEZ Ltd (APSEZ) in the first quarter of 2015-16, ended June 30, on Monday reported a 13% increase in consolidated PAT as compared to the same period last fiscal.

Announcing the financial results, the company said here that consolidated cargo across all ports handled by the company was 40 million metric tons (MMT) in Q1 FY16. Consolidated total income increased by 32% to Rs 1897 crore while consolidated net profit grew 13% to Rs 641 crore.

In case of containers, the Mundra port handled 748,000 TEUs (681,000 TEUs) in a 10 % growth as compared to growth of 3% aggregate growth in container volumes at all the major ports.

APSEZ’s twin ports of Hazira and Dahej handled cargo of 5.42 MMT, a growth of 22%.

Commenting on the results, Gautam Adani, Chairman, Adani Group, said, “The company’s pan-India presence continues to expand and we have received the letter of award from the Government of Kerala for the development of the strategically located Vizhinjam port.”

The company will undertake development and operation/maintenance work of the Vizhianjam International Deepwater Multipurpose Seaport Project on the PPP mode on DBFOT basis. This is a key strategic location to the world’s container traffic that moves just 15 to 20 nautical miles from the port.

The Group recently announced demerger of the Group and moved away from its present ‘holding company’ structure and instead has four independently listed entities for the four major business segments. Adani Enterprises has demerged its ports, power and transmission businesses in APSEZL, Adani Power and Adani Transmission, respectively.

APSEZ recently raised USD 650 million in bonds which is the first investment grade issuance and the largest offering by an infrastructure company in India.

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