• Operational income (excluding other operating income) was up by 15% to Rs 165.54 crore gained by 7% and 3% increase in container and bulk volume over corresponding previous period. Other operating income for the quarter was higher by 85% to Rs 22.46 crore thus taking the overall revenue higher by 20% to Rs 188.00 crore.

• Operating margin expanded by 100 bps to 59.9% and that is largely on account of lower staff cost and lower other expenses. Staff cost (as a proportion to sales) was down by 190 bps to 6.5% and other expenses was down by 30 bps to 13.5%. Operating expenses though stood higher by 120 bps to 20% that could not fully offset the gain in other cost heads facilitating expansion in OPM.

• The other income was up by 3% to Rs 5.12 crore. The interest cost was lower by 99% to Rs 0.09 crore. The depreciation was down by 7% to Rs 16.19 crore and thus the PBT was up by 42% to Rs 101.46 crore.

• EO expenses (gross of tax) for the quarter was up by 238% to Rs 34.58 crore towards cost on cancellation of foreign currency loan, which is not yet withdrawn. EO expense of Rs 10.22 crore in corresponding previous period was towards written off of mobilization charges paid to dredging company subsequent to revision of project expansion plan. Thus the PBT (after EO) was up by 10% to Rs 66.88 crore. The taxation was nil for the quarter and corresponding previous period. Thus the PAT was up by 10% to Rs 66.88 crore.

The company changed the financial year to March ending from December ending. Thus the last fiscal ended March 2015 is for 15 months so it is not comparable to corresponding previous period. On annualizing the financials of fiscal ended March 2015 for comparison purpose, the sales was higher by 34% to Rs 867.03 crore) and the net profit was up by 62% to Rs 387.28 crore.

The stock hovers around Rs 221.25.