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Adani Ports Q1: ‘Strongest Quarter in History’, Record EBITDA & Cargo Volumes

Aug 08, 2022 09:12
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By Malvika Gurung

Investing.com -- The country’s largest private multi-port operator Adani Ports & Special Economic Zone (NS:APSE) presented its earnings results for the June ending quarter on Monday, with net profit missing the Street’s estimates.

The company posted a 16.1% YoY drop in consolidated net profit at Rs 1,072.38 crore during the June quarter, missing the analysts’ target of about Rs 1,250 crore. Sequentially, the profit figure climbed 4.72% in the quarter.

The Adani Group firm’s consolidated revenue from operations surged 20.6% QoQ to Rs 4,637.95 crore during the quarter under focus and declined marginally on a YoY basis due to a Rs 725 crore fall in revenue from the SEZ segment.

"This decline is well in line with our expectation and is factored in our full-year guidance for FY23," said the company.

Adani Ports & SEZ posted the best-ever quarterly cargo of 91 MMT in Q1 FY23, up 8% YoY, along with a highest-ever EBITDA of Rs 3,005 crore, surging 11% YoY, led by a robust performance of the Ports and Logistics business, witnessing a post-Covid demand surge.

The EBITDA of the Ports segment rose 18% YoY and that of the Logistics segment jumped 56% YoY, thanks to an increase in cargo volumes, cargo diversification, elimination of loss-making routes, and operational efficiency measures, stated the company.

“Q1 FY23 has been the strongest quarter in APSEZ’s history, with a record cargo volume and highest ever quarterly EBITDA,” said the company’s management.

Adani Ports Q1: ‘Strongest Quarter in History’, Record EBITDA & Cargo Volumes
 

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Comments (2)
Honey Yadav
Honey Yadav Aug 09, 2022 9:14
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look at the stock price right now
Pushkar Kothari
Pushkar Kothari Aug 08, 2022 10:24
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does the profit also include drug cargoes found on its port??
laishram Robin
laishram Robin Aug 08, 2022 10:24
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see the debt ..thts the end of the story
E Clipx Equity
E Clipx Equity Aug 08, 2022 10:24
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Pushkar Kothari  Definitely bro, But don't worry you wont be able to touch those drugs as our Custom officers will cease it (if any found!)
Gaurav Jagwani
Gaurav Jagwani Aug 08, 2022 10:24
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The drugs are sold in our country only first of all they will cease it and after that they will sell it and the supreme court of our country doesn’t give a shit
 
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