Posted on April 14, 2016
By Turloch Mooney, JOC.com
India’s ports sector continued its financial recovery in fiscal year 2015 to 2016 after its 12 major state-owned ports, known as major ports, booked an increase in operating profit of 19 percent.
The country’s 12 public port trusts registered a combined operating profit of Rs. 4,268 crore ($641.5 million) in the year ending Mar. 31, 2016, an increase of Rs. 670 crore on the previous year, the Minister of Shipping, Road Transport and Highways, Nitin Gadkari said in a statement issued by the country’s Ministry of Shipping.
The figure represents an operating margin of 39 percent compared with the 27 percent margin booked in fiscal 2014 to 2015, the minister said. Jawaharlal Nehru Port Trust became the first port in history to book a net profit in excess of Rs. 1,000 crore. The statement did not include net-profit details for other ports.
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