Adani Ports net zooms 288% to ~1,321 crore

Adani Ports and Special Economic Zone (APSEZ) on Tuesday reported a 288 per cent jump in consolidated net profit to ~1,321 crore for the fourth quarter ended March 31, 2021, up from ~340 crore for the corresponding period last year.

In FY21, the company’s profit after tax (PAT) grew by 33 per cent to ~5049 crore, as against ~3785 crore last year. The firm’s operating revenue for Q4 FY21 grew by 24 per cent to ~3,608 crore, up from ~2,921 crore in Q4 of the previous year. In terms of cargo, Adani Ports clocked 27 per cent growth to handle 73 million metric tonnes (mmt) in Q4 FY21, up from 58 mmt in Q4

FY20. For the full year, the company’s cargo volume grew by 11 per cent to 247 mmt in FY21, up from 223 mmt in FY20.

Karan Adani, chief executive officer and whole-time director,

APSEZ, said the company has been able to restructure costs fundamentally and demonstrate an increase in Ebitda margin by 1 per cent taking its port margins to 70 per cent. “We used this time to complete four large acquisitions — Krishnapatnam Port, Gangavaram port,

Dighi Port and Sarguja Rail

Corridor — taking our total portfolio to 13 ports in the country. The total value of the investment was ~26,000 crore. We have also been able to take another step in our international journey by foraying into container terminals in Colombo Port. We are in the right direction to take APSEZ from a port company to a transport utility firm delivering full logistics solutions to our customers,” Adani added. On the other hand, Adani Total Gas, one of India’s leading private companies in the gas utility sector, reported a 19 per cent growth in its Q4 PAT of FY21 to ~145 crore, up from ~122 crore in the corresponding period last year. The company’s revenue from operations stood at ~614 crore, as compared to ~490 crore in Q4 of the previous financial year.