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Adani Ports Q1 profit jumps 48% to Rs 1,022 crore, revenue up 16%

Adani Ports Q1 results: Consolidated revenue grew by 15.90 per cent to Rs 2,794.47 crore in April-June quarter of the current fiscal as against Rs 2,411.03 crore in the year ago period, on the back of strong ports volume growth and logistic operations

twitter-logo BusinessToday.In   New Delhi     Last Updated: August 7, 2019  | 18:10 IST
Adani Ports Q1 profit jumps 48% to Rs 1,022 crore, revenue up 16%
Gautam Adani-led Adani Ports' total income increased to Rs 3,216.92 crore during June quarter

Gautam Adani-led Adani Ports and Special Economic Zone (APSEZ) on Wednesday reported 48.02 per cent year-on-year (YoY) rise in its consolidated net profit to Rs 1,022.42 crore for the June quarter.

"The Adani group company had posted consolidated net profit of Rs 690.74 crore in the same quarter last fiscal," APSEZ said in a filing to the Bombay Stock Exchange.

Consolidated revenue grew by 15.90 per cent to Rs 2,794.47 crore in April-June quarter of the current fiscal as against Rs 2,411.03 crore in the year ago period, on the back of strong ports volume growth and logistic operations, the Adani group company said in a regulatory filing.

Total income increased to Rs 3,216.92 crore during the June quarter as against Rs 2,703.86 crore a year-ago.

India's largest port developer's EBITDA (Earnings Before Interest, Tax, Depreciation and Amortization) jumped by 16 per cent from Rs 1,588 crore in Q1FY19 to Rs 1,843 crore in Q1FY20, helped by continued strong cargo volume growth. EBITDA margin was stable at 66 per cent, it said.

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"Continued strength in our core operations has resulted in 16 per cent increase in both our operating revenue and consolidated EBITDA, maintaining our EBITDA margins. We are focussed on allocating capital efficiently and improving the return on capital employed," said APSEZ Chief Financial Officer Deepak Maheshwari.

Total expenses rose marginally to Rs 1,796.34 crore from Rs 1,781.46 crore in the year-ago period.

Karan Adani, Chief Executive Officer and Whole Time Director of APSEZ said, "Cargo throughput at our ports continues to be robust. The strategy to have multi commodity ports with geographical diversity connected to major economic hinterland, ability to handle various types of cargo and forming joint ventures with ship liners has helped us to get more cargo at our ports."

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He further said that the company would continue to focus on optimum utilisation of facilities, providing customer centric solutions and ensuring that APSEZ continues to outperform the growth registered by all India ports.

Meanwhile, shares of Adani Ports and Special Economic Zone closed trade at Rs 372.30, down 1.23 per cent, on the BSE on Wednesday.

Edited by Chitranjan Kumar

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