WASHINGTON: Adani Ports and Special Economic Zone, one of India’s leading port developers, has just announced impressive operational and financial results for the financial year ending March 31st 2017. Revenues were up by 19% compared to the 2016 financial year, while after-tax profits jumped by 35%. During the last financial year, the group’s ports handled 169 million tonnes of cargo, a growth rate of 11% compared with the previous 12 months. This is well above the average for all Indian ports of 8%.
Adani Ports’ container business in particular performed exceptionally well last year, passing 4 million teu for the first time. This represents a growth rate of 27% year-on-year, outperforming the combined Indian ports growth rate of 10%. Karan Adani, group chief executive, described the results as “one of our best all round performances.” He continued: “Our strategy to diversify our cargo mix and focus on high value cargo continues to yield positive results. Our EBITDA margins have been improving year on year and this is likely to continue given our focus on operational efficiencies, technology and cost control.”
