Chennai port net profit declines 36 per cent in fiscal 2008-09
The Chennai port registered a 35.6 per cent drop in net profit to Rs 194.59 crore in the fiscal 2008-09, as compared with Rs 302.49 crore in 2007-08. The turnover was, however, up five per cent to Rs 6,58.27 crore during the period, as against Rs 628.09 crore. The port attributed the decline in net profit to a 23.5 per cent increase in expenditure, which went up to Rs 567.13 crore, compared with Rs 459.14 crore in 2007-08.
The country’s third busiest port after Kandla and Visakhapatnam, saw a marginal increase in cargo handling to 57.49 million tonnes (mt) from 57.15 MT in 2007-08. This was mainly contributed by car exports, which rose 80.25 per cent to 2,48,697 units from 1,37,971 last year. However, railway wagons fell by 9.45 per cent and berth occupancy came down 9.46 per cent.
Speaking to reporters, K Suresh, chairman, Chennai Port Trust, said despite recession, the port managed to perform better on the cargo handling and turnover front. “But, we have seen a drop in export by 6 per cent to 22.85 mt, compared with 24.31 mt last year due to a drop in iron ore cargo by 2.57 mt to 8.25 last year. However, import has gone up 5.48 per cent to 34.68 mt from 32.84 mt last year.”
On major plans, he said the port was building a mega container terminal with an estimated cost of Rs 3,686 crore. It will be operationalised by 2015. “We have received tenders from 39 bidders for the project,” he said.
Work on the Rs 1,655 crore elevated expressway project in Maduravoyal will commence by February 2012. The port is spending Rs 200 crore on modernisation besides setting up a 7.5Mw windmill farm at an estimated cost of Rs 40.50 crore. The project will be completed by 2010.
The country’s third busiest port after Kandla and Visakhapatnam, saw a marginal increase in cargo handling to 57.49 million tonnes (mt) from 57.15 MT in 2007-08. This was mainly contributed by car exports, which rose 80.25 per cent to 2,48,697 units from 1,37,971 last year. However, railway wagons fell by 9.45 per cent and berth occupancy came down 9.46 per cent.
Speaking to reporters, K Suresh, chairman, Chennai Port Trust, said despite recession, the port managed to perform better on the cargo handling and turnover front. “But, we have seen a drop in export by 6 per cent to 22.85 mt, compared with 24.31 mt last year due to a drop in iron ore cargo by 2.57 mt to 8.25 last year. However, import has gone up 5.48 per cent to 34.68 mt from 32.84 mt last year.”
On major plans, he said the port was building a mega container terminal with an estimated cost of Rs 3,686 crore. It will be operationalised by 2015. “We have received tenders from 39 bidders for the project,” he said.
Work on the Rs 1,655 crore elevated expressway project in Maduravoyal will commence by February 2012. The port is spending Rs 200 crore on modernisation besides setting up a 7.5Mw windmill farm at an estimated cost of Rs 40.50 crore. The project will be completed by 2010.