NEW DELHI: Adani Ports and Special Economic Zone, which operates some of the largest commercial ports in India, reported 285 per cent jump in consolidated net profit for the March quarter at Rs 1,287.81 crore. The company had posted a profit of Rs 334.39 crore in the corresponding quarter last year. Operating revenue for the firm rose 24 per cent to Rs 3,608 crore from Rs 2,921 crore in the same quarter last year. Consolidated operating Ebitda advanced 39 per cent to Rs 2,287 crore.
The company said it handled 73 million metric tonnes of cargo in the March quarter, up 27 per cent year-on-year. This includes data from Krishnapatnam Port, which was acquired in October 2020 that handled 20 MMT.
“Our customer-centric approach has yielded good results for us as our market share increased by 4 per cent on a pan-India basis.
, which is the largest commercial port in the country, has also become the largest container port in the country this year surpassing JNPT,” said Karan Adani, Chief Executive Officer and Whole Time Director of Adani Ports.
He said, in FY22, based on the company’s internal estimates, the company guided for 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,” said Adani.
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 per cent by FY25, the company management believes.
In FY21, the total operating revenue grew by 6 per cent from Rs 11,873 crore in FY20 to Rs 12,550 crore. Port revenue increased by 12 per cent to Rs 10,739 crore on account of 11 per cent growth in cargo. Revenues from the logistics business stood at Rs 958 crore.