The shipping arm of Ahmedabad-based Adani Enterprises Ltd, Mundra Port and Special Economic Zone Ltd (MPSEZ), the port and on Thursday posted a rise of 20 per cent in its profit for the quarter ended 30 June 30, 2011. The firm’s profit in the quarter stood at Rs 254 crore against Rs 211 crore in the same period previous year.
Now,. Mundra Port and Special Economic Zone is the India’s largest mult port operator in the private sector in terms of cargo handling.
In the quarter, the MPSEZ’s revenues stood at Rs 530 crore, up 27% from Rs 416 crore in the same period last year.
Mr. B Ravi, CFO (Chief Financial Officer), MPSEZ. said ,“During the quarter, Mundra Port handled 1.5 crore metric tonne cargo (as against 1.26 Crore metric Tonne in the same period last year), which was the highest ever, cargo handled in a quarter by the firm. While all major ports in the country registered 5% growth in the first quarter (of financial year 2011-12), Mundra Port registered a 20% rise in cargo handling during this period. Cargo handling grew mainly due to higher bulk and container business,”
The container business for the quarter registered a 23% growth as compared to corresponding quarter last year. During the quarter, MPSEZ’s share in “total cargo handling rose to 9.3 per cent from 8.3 per cent in the same period last year”
The expansions at Mundra as well new port development at Hazira, Goa and Vizag are on schedule which will add additional cargo handling capacity of around 11.50 crore tonnes taking the total capacity to about 30 crore tonnes by 2013 including Abbot Point.
Now,. Mundra Port and Special Economic Zone is the India’s largest mult port operator in the private sector in terms of cargo handling.
In the quarter, the MPSEZ’s revenues stood at Rs 530 crore, up 27% from Rs 416 crore in the same period last year.
Mr. B Ravi, CFO (Chief Financial Officer), MPSEZ. said ,“During the quarter, Mundra Port handled 1.5 crore metric tonne cargo (as against 1.26 Crore metric Tonne in the same period last year), which was the highest ever, cargo handled in a quarter by the firm. While all major ports in the country registered 5% growth in the first quarter (of financial year 2011-12), Mundra Port registered a 20% rise in cargo handling during this period. Cargo handling grew mainly due to higher bulk and container business,”
The container business for the quarter registered a 23% growth as compared to corresponding quarter last year. During the quarter, MPSEZ’s share in “total cargo handling rose to 9.3 per cent from 8.3 per cent in the same period last year”
The expansions at Mundra as well new port development at Hazira, Goa and Vizag are on schedule which will add additional cargo handling capacity of around 11.50 crore tonnes taking the total capacity to about 30 crore tonnes by 2013 including Abbot Point.
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