Economy

Mundra Port PAT surges 40% in Q3

Our Bureau Ahmedabad | Updated on February 09, 2011

The Adani Group-promoted Mundra Port and SEZ Ltd (MPSEZL) registered a 40 per cent growth in profit after tax (PAT) and its revenues increased by 33 per cent in the third quarter of 2010-11 ended December 31, 2010, compared with the corresponding period in the previous financial year, the company said today.

On Tuesday, MPSEZL's share price at the BSE closed 2.05 per cent down at Rs 131.65.

The company's board of directors has declared an interim dividend of Rs 0.50 per equity share of Rs 2 each for the fiscal 2010-11, Mr B Ravi, Chief Financial Officer (CFO), said.

While the revenues were Rs 452 crore (Rs 340 crore), PAT stood at Rs 228 crore (Rs 163 crore).

During the quarter under review, MPSEZL handled 12.41 million tonnes of cargo (9.83 MT), an increase of 26 per cent whereas its container handling business in TEUs increased 44 per cent from 2.25 lakh to 3.24 lakh. Compared with the 2 per cent growth in cargo handling by other ports, MPSEZL saw a growth of 26 per cent.

Advancements

In the third quarter, Mundra Port commenced operations on the 60 MTPA fully-mechanised and world's largest coal receiving terminal at Mundra with the berthing of the first capsize vessel CSK Beilun and also started its own mini-shipyard using air balloon technology to up-slip the tug to the docking blocks.

It also increased its liquid handling capacity by 80,000 KL by the commissioning of vegetable oil tanks in new enclosures. Besides, the company handled 2,195 railway rakes compared with 1,156 rakes in the corresponding quarter of last year, a growth of 90 per cent.

Published on February 08, 2011

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor