Essar Ports Limited announced that the Board of Directors of the company at its meeting held on April 18, 2013, have recommended the declaration of dividend at the rate of INR 0.50 per share to the eligible members of the company.

Essar Ports Limited reported audited consolidated and standalone earnings results for the fourth quarter and full year ended March 31, 2013. For the quarter, on consolidated basis, net sales /income from operations was INR 3,870.8 million compared to INR 2,883.1 million a year ago. Profit from operations before other income finance cost and exceptional items was INR 2,303.0 million compared to INR 1,757.5 million a year ago. Profit from ordinary activities before tax was INR 939.7 million against loss from ordinary activities before tax of INR 1,657.7 million a year ago. Net profit was INR 920.7 million or INR 2.09 per diluted share compared to net loss of INR 615.1 million or INR 1.45 per basic and diluted share a year ago. EBITDA was increased by 24% to INR 3,006 million from INR 2,432 million reported a year ago. For the year, on consolidated basis, net sales /income from operations was INR 14,215.3 million compared to INR 11,088.1 million a year ago. Profit from operations before other income finance cost and exceptional items was INR 8,967.8 million compared to INR 6,707.1 million a year ago. Profit from ordinary activities before tax was INR 3,990.7 million against INR 366.4 million a year ago. Net profit was INR 3,315.5 million or INR 7.53 per diluted share compared to net profit of INR 639.5 million or INR 1.50 per diluted share a year ago. EBITDA was increased by 26% to INR 11,539 million from INR 9,132 million reported a year ago. For the quarter, on standalone basis, net sales /income from operations was INR 78.5 million compared to INR 124.2 million a year ago. Loss from operations before other income finance cost and exceptional items was INR 15.3 million compared to profit from operations before other income finance cost and exceptional items of INR 06.8 million a year ago. Loss from ordinary activities before tax was INR 140.2 million against loss from ordinary activities before tax of INR 121.0 million a year ago. Net loss was INR 140.7 million or INR 0.33 per basic and diluted share compared to net loss of INR 123.3 million or INR 0.30 per basic and diluted share a year ago. For the year, on standalone basis, net sales /income from operations was INR 354.0 million compared to INR 362.2 million a year ago. Loss from operations before other income finance cost and exceptional items was INR 07.3 million compared to profit from operations before other income finance cost and exceptional items of INR 53.0 million a year ago. Loss from ordinary activities before tax was INR 383.1 million against INR 707.6 million a year ago. Net loss was INR 383.6 million or INR 0.90 per basic and diluted share compared to net loss of INR 709.9 million or INR 1.73 per basic and diluted share a year ago.

Essar Ports Limited, Q4 2013 Earnings Call, Apr 18, 2013