The company posted a good set of numbers for Q1FY16, beating most estimates. Consolidated Net profit increased 13% (YoY) at Rs.641 crore. Net sales rose 40%at Rs.1723 crore. EBITDA was up 39% at Rs.1145 crore and margins expanded 50 bps to 65.5%. Its bone of contention – interest cost remains high at Rs.318 crore, up 52%.

Consolidated cargo across all ports handled by the company was 40 MMT in Q1FY16, up 17% (YoY). In case of containers, the Mundra port handled 748,000 TEUs v/s 681,000 TEU’s, up10% compared to growth of 3% aggregate growth in container volumes at all the major ports.  The twin ports of Hazira and Dahej handled cargo of 5.42 MMT, showing a growth of 22%. The company received letter of award from the Government of Kerala for development and operation/maintenance of the Vizhinjam International Deepwater Multipurpose Seaport Project on PPP mode on DBFOT basis.