Adani Ports & SEZ records stellar performance, reports 76.2% growth in Q4 net profit

Adani Ports and Special Economic Zone (APSEZ) has announced a robust performance for the quarter ended March 2024, with a consolidated net profit of ₹2,040 crore, marking a remarkable 76.2% increase from the previous year. The company’s revenue from operations surged by 19% to ₹6,896.5 crore, demonstrating sustained growth momentum.

At the operational level, APSEZ witnessed a notable rise in Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA), reaching ₹4,045 crore, a 24% increase compared to the same period last year. Additionally, the EBITDA margin improved to 58.6% from 56.4% year-on-year, reflecting enhanced operational efficiency.

Ashwani Gupta, Whole-Time Director & CEO of Adani Ports & SEZ, highlighted the company’s exceptional performance, surpassing its guidance for cargo, revenue, and EBITDA. APSEZ’s strategic expansion initiatives, including the acquisition of Gopalpur Port and upcoming projects like Vizhinjam Port and WCT, position it well to achieve 500 MMT of cargo volumes by 2025.

In the fiscal year 2024, Adani Ports recorded a significant revenue growth of 28% year-on-year, amounting to ₹26,711 crore. This growth was driven by a 30% increase in ports business revenue and a 19% rise in logistics business. The company reported a net profit of ₹8,104 crore, marking a 50% year-on-year increase.

Adani Ports’ domestic cargo volumes witnessed impressive growth, expanding by 21% year-on-year, outperforming India’s overall cargo volume growth of 7.5% in FY24. EBITDA (excluding forex) for the fiscal year surged by 24% year-on-year to ₹15,864 crore, with the ports business contributing ₹15,246 crore and the logistics business contributing ₹540 crore. The domestic port EBITDA margin expanded by approximately 150 basis points, driven by improved asset utilisation.