V O Chidambaranar Port Trust FY21 results: Operating income drops 6% to Rs 550 cr

NEW DELHI: Tuticorin-based V O Chidambaranar Port Trust on Friday said its operating income declined 5.72 per cent to Rs 549.51 crore during FY2020-21 from Rs 582.90 crore in the previous year.

According to the annual statement, the port’s operating surplus was Rs 322.63 crores in the last fiscal, as against Rs 328.71 crore in 2019-20.

The net surplus after tax was Rs 113.72 crore in 2020-21 as against Rs 135.23 crore in 2019-20.

The statement said during the financial year 2020-2021, V O Chidambaranar Port Trust handled cargo traffic of 31.79 million tonnes, against the previous year’s 36.08 million tonnes, registering a decrease of 11.89 per cent.

Imports have accounted for 22.53 million tonnes (70.86 per cent) and exports accounted for 9.18 million tonnes (28.90 per cent) and transhipment accounted for 0.08 million tonnes (0.24 per cent), it said.

In terms of containers, the port has handled 7.62 lakh, Twenty Foot Equivalent Units (TEUs) of containers in the year 2020-21, registering a decrease 5.22 per cent over previous year’s container traffic of 8.04 lakh TEUs.

According to the statement, the port has initiated proposals for dredging of North Cargo Berth-III to a draft of 14.20 metres at an estimated cost of Rs 64.15 crore.

“In order to facilitate ships of Beam 49 metres and LOA of 366 (Existing Beam 48 metres, LOA 310 metres) to call VOC Port, widening of the port’s entrance channel from 152.40 metres to 230 metres at a cost of Rs 15.24 crore has also been taken up by the port,” it said.

The statement said that to cater the growing container traffic forecast, port is in the process of developing its third container terminal under public private partnership.

“To facilitate ease of doing business, installation of State of Art Drive Through Container Scanner, having the capacity to scan 100 trucks per hour, at a cost of Rs 47 crore is nearing its completion,” it said.

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