Adani Ports Q4 profit zooms 76% to Rs 2,039.7 crore

Adani Ports Q4 results: Adani Ports and Special Economic Zone (APSEZ), backed by billionaire Gautam Adani, has recorded a 76 per cent rise in its fourth quarter net profit for Financial Year 2024, surging to Rs 2,039.7 from Rs 1,157.6 crore recorded in the same quarter of last financial year (Q4FY23). 

The revenue of the company recorded a 19 per cent growth, rising to Rs 6,896.5 crore from Rs 5,796.9 crore recorded in the same period last fiscal. 

The board of the port operator has announced a dividend of Rs 6 per equity share for FY24 which is subject to the approval of the shareholders. 

Ashwani Gupta, Whole-Time Director & CEO, APSEZ, said, “FY24 has been a year of many new milestones for APSEZ on both operational and financial metrics. APSEZ outperformed its upper end of guidance provided at the beginning of the financial year on cargo, revenue, and EBITDA by 6 per cent-8 per cent, while closing the year with net debt to EBITDA ratio of 2.3x vs its guidance of 2.5x. Clearly, 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."

According to a BSE filing, Adani Ports and Special Economic Zone (APSEZ) witnessed a notable 12 per cent year-on-year surge in cargo volumes during April 2024. The company handled a total of 36.2 million metric tonnes (MMT) of cargo during the month, showing strong growth across most domestic products. 

The growth was observed across all three major cargo categories: Dry cargo recorded a 7 per cent year-on-year increase, while Liquid & Gas cargo saw a 29 per cent surge, and Container cargo witnessed a 14 per cent rise. 

Moreover, the logistics segment also experienced growth, with rail volumes up by 5 per cent year-on-year to 49,430 twenty-foot equivalent units (TEUs), and GPWIS volumes rising by 26 per cent to approximately 1.8 MMT.

As of 1:55 pm shares of the Adani Ports traded 0.71 per cent up at Rs 1334.30 apiece on BSE.