WASHINGTON: Large Indian port operator APSEZ has announced a strong performance on the back of higher container volumes in the 2017 financial year. As logistics arm of Indian Conglomerate Adani Group and owner of a large private port in Mundra, APSEZ also operates ports in Mundra, Dahej, Hazira, Dhamra and Kattupalli. It runs terminals elsewhere, in Murmugao, Vishakhapatnam, Tuna-Tekra while it is in the process of developing Container Handing Terminal at Ennore Port, Tamil Nadu.
APSEZ reported a 27% hike in container volumes on a year-on-year basis to 4.24 million TEUs, having surpassed 4 million TEUs for the first time. For all types of cargo, volumes it handled grew 11%, surpassing India-wide cargo growth of 8% year-on-year. Profit after Tax grew by 35% to about $608.7 million in FY17. Consolidated Revenue from operations registered a growth of 19 % to about $1.3 billion in the year. Karan Adani, Chief Executive Officer and Whole Time Director of APSEZ said: “This is one of our best all round performance. “Our strategy to diversify our cargo mix and focus on high value cargo continues to yield positive results. “FY17 volume growth was led by containers and high growth in other ports namely Hazira, Dhamra and Kattupalli. “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”.
