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Adani Ports and Special Economic Zone Q4 FY2024 Results: Net profit up by 76%
Tanushree Jaiswal
Last Updated: 2nd May 2024 - 05:42 pm
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Key Highlights
- Adani Ports' revenue from operations for Q4 FY2024 increased by 19% on a YOY basis.
- Net profit was marked at ₹2040 cr for Q4 FY2024.
- EBITDA for Q4 FY2024 increased by 24%.
Business Highlights
- Adani Ports reported a consolidated net profit for Q4 FY2024 at ₹2040 cr from ₹1158 cr in Q4 FY2023, up by 76.20%.
- Its revenue from operations Q4 FY2024 was ₹6,896.50 cr against ₹5,796.85 cr in Q4 FY2023, up by 190%.
- Total revenue growth for FY 2024 was ₹26,711 cr, up by 28% while net profit for FY 2024 was ₹8,104, up by 50%.
- EBITDA was up by 24% on a YOY basis for Q4 FY 2024 racing ₹4,045 cr from ₹3,273 cr for the same period in FY 2023.
- The company declared a ₹6 dividend per equity share having a face value of ₹2 for FY 2024.
Commenting on the results, Ashwani Gupta, Whole-Time Director & CEO, Adani Ports & SEZ. said, “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. 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 recently acquired Gopalpur Port, and the scheduled commissioning of Vizhinjam Port in the current year and WCT next year.”
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