Adani Ports’ Net Profit Falls 22% YoY on High Expenses in Q4, Shares Tank 5%

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Adani Ports’ Net Profit Falls 22% YoY on High Expenses in Q4, Shares Tank 5%

By Malvika Gurung -- The country’s largest private multi-port operator Adani (NS: APSE ) Ports and Special Economic Zone posted its earnings report for the March-ending quarter, with total expenses surging and net profit declining on a year-on-year basis.

The company’s consolidated net profit declined 21.78% YoY to Rs 1,033 crore in Q4 FY22, as overall expenses surged 31% YoY to Rs 3,310 crore, led by a sharp uptick in foreign exchange losses standing at Rs 524 crore in the quarter, compared to a net gain of Rs 24 crore in the year-ago period.

Its consolidated total income rose 8.5% YoY to Rs 4,417.87 crore in Q4, while consolidated revenues from operations advanced 6.6% YoY to Rs 3,608 crore in the March quarter.

In FY22, the Adani Group firm’s financial figures looked like this:

  • Consolidated net profit slid 5% YoY to Rs 4,795 crore,
  • Consolidated revenues from operations surged 27% YoY to Rs 15,934 crore,
  • Total expenses jumped 50% YoY to Rs 12,335 crore amid high forex loss and finance costs, and
  • Overall EBITDA grew 22% YoY to Rs 9,811 crore.

Further, the company’s CEO Karan Adani has stated that it did a record cargo volume of 312 MMT with Mundra port alone handling 150 MMT, a feat never achieved by any other commercial port in the country.

Shares of the company fell 5% to Rs 714.55 apiece at 12:47 pm.

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  • Rameshwar Narwade @Rameshwar Narwade
    exit from adaniport next support level 650
    Like 1
  • Anandu G S @Anandu G S
    Any chance of recovery in the shares??
    Like 0

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