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Last Updated : Aug 01, 2012 12:12 PM IST | Source: CNBC-TV18

Adani Ports and SEZ Q1 PAT seen up 22% at Rs 309 cr

Adani Ports and Special Economic Zone is set to declare its first quarter results for the financial year 2012-13 today. Analysts on an average expect the profit after tax to grow by 22% year-on-year to Rs 309 crore during the quarter.

 
 
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Adani Ports and Special Economic Zone is set to declare its first quarter results for the financial year 2012-13 today. Analysts on an average expect the profit after tax to grow by 22% year-on-year to Rs 309 crore during the quarter.


Total income is seen going up by 25% to Rs 664 crore and earnings before interest, tax, depreciation and amortisation too is likely to rise by 25% to Rs 455 crore during the same period.


EBITDA margin is expected to be flat at 68.5% in the April-June quarter of financial year 2012-13.


Expectations


Analysts expect strong volume growth to drive revenues in the quarter.


Volume growth will be driven by 3 factors :->


Commencement of the 9 mtpa HMEL refinery in Bhatinda is likely to augment crude volumes.


Container volumes are likely to increase at Mundra as traffic shifts from congested ports (in Mumbai & JNPT).


Coal volumes for two power plants, which were negligible in Q4FY12, are likely to see some revival during the quarter.


Analysts expect port traffic to be led by coal, fertilizers and containers.


These expectations do not include a higher tax rate, which the company could witness this quarter. Profit after tax may be lower if the company does not assume MAT credit.


Abbott Point Coal Terminal acquisition


Abbott Point Coal Terminal acquisition worth USD 1.2 billion has increased debt burden for the company.


Adani Ports had financed it completely, so interest expenses could come in higher this quarter.


Revenues could surprise on the upside due to higher than estimated contribution from Abbott as it is a profitable port.



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First Published on Aug 1, 2012 10:10 am
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