Winning Bizness Desk

Mumbai. Adani Ports and Special Economic Zone (ASPEZ) has declared its fourth quarter (January-March) results. The company's consolidated net profit for the March quarter (Q4FY23) rose 5% year-on-year (YoY) to Rs 1,158.88 crore. The company had posted a profit of Rs 1,102.61 crore in the same quarter last year. The company's revenue from operations in the fourth quarter grew 40% year-on-year (YoY) to Rs 5,797 crore, as against Rs 4,140.8 crore in the same quarter last year (Q4FY22). The company's board has also declared a dividend of Rs 5 per share to its investors. The company also added that it recorded investments of around Rs 27,000 crore in FY23, which includes six major acquisitions totaling around Rs 18,000 Cr and organic capex of around Rs 9,000 crore. Meanwhile, shares of Adani Ports closed 0.43 percent lower at Rs 734.30 apiece on BSE today (May 30). The stock has slipped 10 percent over year-to-date basis but has recovered from its lows in the past few sessions. In 1-month period, the scrip has gained 7 percent from its lows.

EBITDA up 59% to Rs 3,270.7 crore

The company's EBITDA also grew 59% year-on-year (YoY) to Rs 3,270.7 crore in Q4FY23. The company's EBITDA (Q4FY22) stood at Rs 2,057.1 crore in the same quarter last year. Adani Ports' EBITDA margin also improved to 56.4% in the fourth quarter from 49.7% last year. On Tuesday, Adani Ports shares closed at Rs 734, down 0.47%.

What does CEO and Whole Time Director say ?

India's biggest port operator and logistics company under billionaire Gautam Adani-led conglomerate recorded its highest-ever port cargo volumes at 339 MMT in FY23, which is around 9 percent YoY jump. Commenting on the results, Karan Adani, CEO and Whole Time Director, said, "The company has overachieved against its highest-ever revenue and EBITDA guidance provided at the beginning of the year. Our strategy of geographical diversification, cargo mix diversification, and business model transition to a transport utility is enabling robust growth."