Ashok Kumar, theIPOguru, is a man of few words. So, when he speaks, investors and particularly those chasing the IPO Rainbow with
the proverbial 'pot of gold' at the end of it, listen carefully.
Q) Please comment of the future outlook of Mundra Port.
March 09, 2010
- Raj Doshi, Gurgaon
Mundra Port and SEZ (MPSEZ) registered revenue of Rs. 3378 million for Q3 FY10, y-o-y growth of 12.3% which was lower than the market expectations. The company handled 9.8 mnte of cargo in this quarter, a growth of 9.5% y-o-y.
Crude volumes declined sharply 5.9% y-o-y due to the fire which took place at IOC Jaipur tank farm resulting into closure of the unit from mid October to mid November while Container volumes increased by 17.7% y-o-y to 2.7 mnte. Bulk cargo volumes grew by 9.1% y-o-y to 5.8 mnte.
The SEZ operations contributed additional revenue of Rs 95 million this quarter and as and when this materializes, it could act as a positive for the stock as also the tenders for JNPT’s fourth terminal which have not yet opened. It will enable the company to garner volumes.
The future prospects appear positive for the long term.
