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Adani Ports Q4 Results: Profit up 76% despite one-time loss; FY25 volumes seen between 460 – 480 MT
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Summary
Adani Ports incurred an expense of ₹215.9 crore with regards to a one-time settlement opted by employees of one of its foreign subsidiaries.
Adani Ports & Special Economic Zone Ltd. has guided for cargo volumes to range between 460 MT to 480 MT in financial year 2025, which will be a growth of 23% when compared to the higher end of the revised guidance of 390 MT for financial year 2024.
The company’s Mundra Port handled 180 MMT cargo volume in financial year 2024 and the company said that it is well placed to cost 200 MMT in financial year 2025.
India’s largest port operator reported a net profit growth of 76% compared to the year-ago period to ₹2,039 crore in the March quarter, it said in an exchange filing.
The growth in the company’s bottom-line came despite a one-time loss of ₹373 crore during the quarter.
Adani Ports incurred an expense of ₹215.9 crore with regards to a one-time settlement opted by employees of one of its foreign subsidiaries. It also saw a reclassification adjustment pertaining to transfer of foreign currency translation reserve worth ₹157.8 crore from other comprehensive income to the profit and loss account.
Revenue growth for the quarter stood at 19%. The company reported a topline of ₹6,896.5 crore for the January-March period. For the full financial year 2024, the company reported revenue of ₹26,711 crore.
For financial year 2025, Adani Ports has guided for revenue to be in the range of ₹29,000 crore to ₹31,000 crore.
Earnings Before Interest, Tax, Depreciation and Amortisation increased by 20.3% year-on-year to ₹4,102 crore. While EBITDA margin expanded by 220 basis points to 58.6% from 58.4% last year.
Adani Ports expects EBITDA for financial year 2025 to be between ₹17,000 to ₹18,000 crore. At the higher end, this will be 13% higher than the ₹15,864 crore the company reported in the previous financial year.
The company intends to spend between ₹10,500 crore to ₹11,500 crore in financial year 2025 as capital expenditure. Out of the total capex, ₹7,300 crore is earmarked for the Ports business, ₹400 crore for Marine Services, ₹2,300 crore for Logistics and ₹1,500 crore for Decarbonisation.
Adani Ports has also announced a dividend of ₹6 per share, which is the highest in the company’s history.
Shares of Adani Ports are trading 1.1% higher at ₹1,339.95. The stock has risen 28% so far in 2024.
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