Operating Surplus Increased By 4,268 Crores INR in Indian Ports

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Operating Surplus

The Port Trust of India(PTI) revealed recently that it has witnessed a gain of 18.78% in operating surplus which worth 4,268 crores INR at the first trimester end of financial year. At present country has 12 ports which operates efficiently unanimously and had collected surplus of 3,593 crores INR in previous year.

According to the centre government led by Prime Minister Narendra Modi, the profit has seen a marginalization during the fiscal year with due improvement. The improvement is due to overall reduction in the average turnaround time in the major ports.

The Jawaharlal Nehru Port Trust ended up with profit of 938 crores INR in comparison to previous year profit worth 837 crore INR. It became the highest earning Port Trust of India in its current financial year. Also, other State Ports such as Kolkata, Paradip, Mumbai, Cochin and Kandala gave reasons for increase in surplus as of current fiscal year.

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The second highest gaining Port was Karmajar Port Limited (formerly known as Ennore Port Ltd.) worth 518 crores INR. Top gainers JNPT planned to raise fund worth 2,600 crores INR with the help of DBS Bank , a Singapore based financier and public lender State Bank of India. The sole motto to raise fund will be to construct better and wider roads for proper movement of cargos and vehicles towards Port Trusts.

Minister of State of Shipping, Pon Radhakrishnan, opined in a statement written to Upper House/Rajya Sabha, “The profit margin of 12 major ports has improved from 27 per cent during 2013-14 to 39 per cent during 2015-16. The total operating income of the major ports was Rs. 10,961 crore during 2015-16,”

Apart from State Ports , India has 18 private port trusts which include Chowgule Ports and Infrastructure, D P World, Chennai International Container Terminal, Gujarat Pipavav Port, and Mumndra International Container Terminal under Indian Private Ports and Terminal Association.

The export in India decreased by 15.85% which was worth 261 billions USD where as imports inclined to $379.6 billions USD in the end of financial year 2015-16. Heading off, India’s Port Trusts witnessed a decline in 12 months tenure consistently portraying a weakness in global economy.

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