Adani Ports Q4 results: India’s largest port operator reports 77% YoY jump in profit – check details

Adani Ports Q4 results: Adani Ports and Special Economic Zone has reported a 77% year-on-year jump in its consolidated net profit at Rs 2,014.77 crore. The profit was Rs 1,139.07 crore in the previous year. The revenue from operations for the fourth quarter of FY 2023-24 increased by 19% year-over-year to Rs 6,896.50 crore from Rs 5,796.85 crore.
According to an ET report, the board of India’s largest port operator recommended a dividend of Rs 6 per share.
The company achieved three times the growth rate of India’s cargo and set a record volume of 420 million metric tons for the financial year 2023-2024. This resulted in a volume growth of 24% year-over-year, according to the company’s filing to the exchanges.
In FY24, APSEZ’s net profit increased by 50% year over year, while the revenue grew by 28% year over year to achieve a record of Rs 26,711 crore. The EBITDA surged by 44% year over year to reach Rs 15,751 crore.
After the results were announced, shares of Adani Ports were trading at Rs 1,340, up 1.14% on the Bombay Stock Exchange.

Adani Ports FY24 results: Key Takeaways

The company recorded a Profit After Tax (PAT) of Rs 8,104 crore, even after writing off Rs 455 crore due to the transition to the new tax regime for one of its subsidiaries.
The company completed loan pre-payments or repayments of 5,584 crore rupees, which exceeded the initial guidance of 5,000 crore rupees provided at the beginning of the year.
The Net debt to EBITDA ratio improved to 2.3 times from 3.1 times in the financial year 2023, even with a capital expenditure of Rs 7,416 crore.
The dividend payout of Rs 6 per share will cost the company Rs 1,300 crore.
The port operator purchased Gopalpur Port and Karaikal Port with the aim of boosting growth and enhancing east-west parity. As a result, the total number of ports in the India portfolio rose to 15.

Adani Ports FY25 Guidance

Cargo volumes during the period are expected to be between 460-480 million metric tons. Revenue for the period is projected to be between Rs 29,000-31,000 crore. EBIDTA for the period is estimated to be between Rs 17,000-18,000 crore. Net Debt to EBITDA is anticipated to be between 2.2-2.5 times. Capital expenditure for the period is expected to be in the range of Rs 10,500-11,500 crore.

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