Essar Ports Limited part of the Essar Group announced its results for the quarter ended December 31st 2011.

Financial Results:
For the quarter ended December 31st 2011, Essar Ports’ revenue increased to INR 276.78 crore as against INR 190.27 crore, registering an increase of 45 %. For the nine months Essar Ports posted revenues of INR 834.40 crore as against INR 542.19 crore, an increase of 54 %.

For the quarter ended December 31st2011, Essar Ports EBITDA increased to INR 219.36 crore as against INR 138.61 crore Q3 FY11 registering an increase of 58%. For the nine months Essar Ports posted EBITDA INR 670.38 crore as against INR 398.33 crore, an increase of 68 %.

For the quarter ended December 31st 2011, Essar Ports' net profit increased to INR 44.98 crore as against INR 8.21 crore in Q3 FY11.For the nine months, Essar Ports posted a net profit of INR 125.43 crore as against INR 17.02 crore, an increase of 637%.

Speaking on these results, Mr Rajiv Agarwal CEO & MD of Essar Ports Limited said that “We are happy with our performance, and expect to continue with our high growth trajectory in the coming years. It has been a good quarter with significant progress on the regulatory approvals side; now the management focus is on completion of all the projects on time.”