News18» News»Business»Adani Ports Q4 results: Net profit jumps 288% to Rs 1,321 crore
1-MIN READ

Adani Ports Q4 results: Net profit jumps 288% to Rs 1,321 crore

Adani Ports

Adani Ports

Adani Ports results: The operating revenue increased to Rs 3,608 crore, up by 24% year-on-year, during the quarter under review

Adani Ports and Special Economic Zone Limited, the largest transport utility in India has reported a 288% year-on-year jump in net profit to Rs 1,321 crore in the quarter ended in 31 March. The company that operates some of the largest commercial ports in India, posted Rs 340 crore net profit for the same period last year. The company handled 73 million metric tonnes of cargo in the March quarter, up 27% year-on-year.

The operating revenue increased to Rs 3,608 crore, up by 24% year-on-year, during the quarter under review. It stood at Rs 2,921 crore during Q4FY21.  Consolidated operating earnings before interest, taxes, depreciation, and amortization or EBITDA stood Rs 2,287 crore in the March quarter.

In FY21, the total operating revenue increased by 6% year-on-year to Rs 12,550 crore. Port revenue increased by 12% to Rs 10,739 crore due to 11% growth in cargo.

Commenting on the FY21 results, Karan Adani, chief executive officer and whole time director of APSEZ said, “FY21 has been a transformational year for APSEZ. Some of the key decisions we took this year have set the foundation for the coming decade. Our customer centric approach has yielded good result for us as our market share increased by 4% on a pan India basis."

On future outlook, Karan Adani said, “In FY22, basis our internal estimates we guide for cargo volume to be in the range of 310-320 MMT, this includes 10 MMT of Gangavaram port in Q4 FY22. Consolidated revenue to be in the range of Rs 16,000 crore to Rs 16,800 crore, Consolidate EBIDTA to be in the range of Rs 10,200 crore to Rs 10.700 crore and free cash flow to be in the range of Rs 5,500 crore to Rs 6,000 crore."

“With all this APSEZ is well on its course to become a truly integrated transport and logistics utility and achieve 500 MMT of cargo throughput and ROCE to be in excess of 20% by FY25," he further added.

The board announced a dividend of 5 per equity share of Rs 2 each fully paid-up for FY21. “The company will inform in due course the date on which the Company will hold Annual General Meeting for the year ended 31st March, 2021 and the date from which dividend will be paid or warrants thereof will be dispatched to the shareholders," Adani ports stated in the regulatory filing.

Read all the Latest News, Breaking News and Coronavirus News here

first published:May 04, 2021, 17:17 IST