APSEZ’s Q4 consolidated net profit up 27%

Mumbai, May 24 (IANS) Adani Ports and Special Economic Zone (APSEZ) on Wednesday reported an increase of 27 per cent in its consolidated net profit for the fourth quarter (Q4) of 2016-17.According to

Mumbai, May 24 (IANS) Adani Ports and Special Economic Zone (APSEZ) on Wednesday reported an increase of 27 per cent in its consolidated net profit for the fourth quarter (Q4) of 2016-17.

According to the company, its consolidated net profit during the quarter under review increased to Rs 1,179 crore from Rs 928 crore in the corresponding period of 2015-16.

APSEZ’s consolidated revenue during the quarter under review rose by 18 per cent to Rs 2,231 crore.

“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,” said Karan Adani, Chief Executive Officer and Whole Time Director of APSEZ.

On a full financial year 2016-17 basis, Asian Paints reported a 35 per cent increase in its consolidated net profit to Rs 3,920 crore from Rs 2,914 crore in 2015-16.

The company’s consolidated group revenue during the fiscal under review increased by 19 per cent to Rs 8,439 crore.

“FY17 volume growth was led by containers and high growth in other ports namely Hazira, Dhamra and Kattupalli,” Adani said.

“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.”

This is published unedited from the IANS feed.