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For the quarter ended Mar'16, net sales was lower by 6% to Rs 1415 crore. Due to lower EXIM volumes which was lower by 5.5% YoY and higher empty running costs and other fixed costs, OPM was lower by 790 bps to 14%, thus resulting in a 40% fall in OP to Rs 197.56 crore. Other income was lower by 1% to Rs 97.75 crore and interest costs were NIL. Depreciation was up by 22% to Rs 98.78 crore which resulted in a 44% decrease in PBT to Rs 196.53 crore. Total tax provision was up 1% to Rs 55.52 crore on YoY basis, PAT for the quarter ended Mar'16 stood at Rs 141.01 crore.
For the quarter ended Mar'16, Exim sales, which constitute around 78% of total sales, were lower by 7% to Rs 1110.66 crore. Domestic sales were also lower by 2% to Rs 304.57 crore. PBIT Margin of Exim business was lower by 760 bps to 13.3% and PBIT stood at Rs 148.23 crore, down by 41% YoY for Mar'16 quarter. PBIT margin of Domestic business stood at 1.8% and PBIT stood at Rs 5.38 crore, down by 77% YoY.
Performance for the 12 months ended Mar'16
For the 12 months ended Mar'16, net sales were up by 3% at Rs 5742.58 crore. For 12 months ended Mar'16, Exim traffic was lower by around 5.5% and domestic was down by 8.4% leading to an overall traffic handling lower by around 6%. Net sales for FY'16 were up by 3% due to revised rates and tariffs as compared to FY'15. OPM was lower by 430bps to 18.8%, resulting in a 17% decrease in OP to Rs 1081.54 crore. Other income was lower by 7% to Rs 344.66 crore. Interest costs were Nil and depreciation was lower by 2% to Rs 364.60 crore, thus PBT was lower by 18% to Rs 1061.60 crore. After providing total tax of Rs 274.67 crore, up by 11%, PAT for 12 months ended Mar'16 was lower by 25% to R 786.93 crore on YoY basis.
For the year ended Mar'16, Exim sales, which constitute around 81% of total sales, were up by 4% to Rs 4637.15 crore. Domestic sales were lower by 2% to Rs 1105.43 crore. PBIT Margin of Exim business was lower by 380 bps to 17.4% and PBIT stood at Rs 809.16 crore, down by 14% for 12 months ended Mar'16. . PBIT margin of Domestic business stood at 1.8% and PBIT stood at Rs 20.03 crore, down by 75%.
The Board of Directors have recommended a dividend of Rs 13.50 per equity share of face value of R 10 each for FY'16
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