Adani Ports reports 285% y-o-y surge at Rs 1,288 cr in Q4

Adani Ports and Special Economic Zone (APSEZ) has reported a 285% year-on-year (y-o-y) surge in consolidated net profit for the March quarter at Rs 1,287.81 crore. APSEZ had posted a profit of Rs 334.39 crore in the same quarter last year. Operating revenue for the company increased 24% to Rs 3,608 crore from Rs 2,921 crore in the same quarter last year. Consolidated operating EBITDA advanced 39% to Rs 2,287 crore. The company told the media it handled 73 million metric tonnes (mmt) of cargo in the March quarter, up 27% y-o-y. This includes data from Krishnapatnam Port, which was acquired in October 2020 that handled 20 mmt. Based on the company's internal estimates, APSEZ said in FY22 its guided cargo volume to be in the range of 310-320 mmt, including 10 mmt of Gangavaram port in Q4 FY22. Consolidated revenue was in the range of Rs 16,000 crore to Rs 16,800 crore, consolidated EBITDA in the range of Rs 10,200 crore to Rs 10.700 crore and free cash flow in the range of Rs 5,500 crore to Rs 6,000 crore, Chairman Gautam Adani told the media. APSEZ is set 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. In FY21, the total operating revenue grew by 6%, from Rs 11,873 crore in FY20 to Rs 12,550 crore. Port revenue increased by 12% to Rs 10,739 crore on account of 11% growth in cargo. Revenues from the logistics business was at Rs 958 crore. Image SourceAlso read: Adani to acquire 58% stake in Gangavaram port Also read: Adani Ports market cap crosses Rs 1 trillion mark