Adani Ports Q4 net profit jumps 77% to Rs 2014.77 crore

The country’s largest integrated logistics player Adani Ports and Special Economic Zone Limited (APSEZ) on Thursday reported a 76.87% jump in consolidated net profit to Rs 2,014.77 crore for the fourth quarter ended March 2024.

In a regulatory filing, the company said that net profit in the corresponding period of the previous fiscal stood at Rs 1,139.07 crore.

Consolidated total income increased to Rs 7,199.94 crore for the fourth quarter of FY24 against Rs 6,178.35 crore in the year-ago period.

“FY24 has been a year of many new milestones for APSEZ on operational and financial metrics,” said Ashwani Gupta, Whole-Time Director & CEO, APSEZ.

He added that APSEZ outperformed its upper end of guidance provided at the beginning of the financial year on cargo, revenue, and EBITDA by 6%-8% while closing the year with net debt to EBITDA ratio of 2.3x vs its guidance of 2.5x.”The company’s business model of end-to-end service, strategic partnership with key customers, leveraging the network effect through its string of ports, and focus on operational efficiencies is yielding results.”The company said with incremental cargo volumes of 100 MMT achieved in less than two years, APSEZ is well poised to achieve 500 MMT of cargo volumes in 2025, aided by the recently acquired Gopalpur Port, and the scheduled commissioning of Vizhinjam Port in the current year and WCT next year.”We continue to invest heavily in the business to drive growth, particularly in the logistics segment. Our newly launched trucking segment enables APSEZ to provide the last-mile connectivity solution to its customers,” added Gupta.
The total expense also rose to Rs 4,450.52 crore in the quarter under review from Rs 3,995 crore a year ago.

APSEZ’s scrip ended at Rs 1339, up 1.07% on the BSE Thursday. Benchmark Sensex ended 0.17% higher.