Adani Ports Q3 Results: Revenue Rises 17% YoY, Profit Slumps 16%. 10 Key Points To Note

Adani Ports & SEZ on Tuesday reported a net profit of Rs 1,315 crore for the quarter ended December 2022 (Q3 FY23). Meanwhile, revenue from operations, rose 17 per cent year-on-year (YoY) to Rs 4,786 crore for the quarter under review. It was Rs 4,072 crore in the third quarter of last year.

New Delhi: Adani Ports & SEZ on Tuesday reported a net profit of Rs 1,315 crore for the quarter ended December 2022 (Q3 FY23). The profit has fallen by 16 per cent year on year (YoY), as the net profit was reported as Rs 1,567 crore in the corresponding period a year ago.

Meanwhile, revenue from operations, rose 17 per cent year-on-year (YoY) to Rs 4,786 crore for the quarter under review. It was Rs 4,072 crore in the third quarter of last year.

ADANI PORTS Q3 RESULTS: KEY POINTS

1. Adani Ports reported an EBITDA (earnings before interest, tax, depreciation and amortisation) of Rs 3,011 crore in Q3 FY23, up 15 per cent, against Rs 2,612 crore reported in the same quarter last year.
2. The company expects full-year revenue to be in the range of Rs 19,200-19,800 crore and EBIDTA at Rs 12,200-12,600 crore for FY23.
3. “With the highest ever revenue and EBITDA over a nine-month period, ASPEZ is well placed to achieve the upper end of its full-year revenue and EBITDA guidance provided for FY23,” said Karan Adani, CEO and Whole Time Director, Adani Ports and Special Economic Zone.
4. APSEZ is also targeting FY24 EBITDA of Rs 14,500-15,000 crore.
5. “Besides an estimated capital expenditure of Rs 4,000-4,500 crore, we are considering total loan repayment and prepayment of around Rs 5,000 crore, which will significantly improve our Net Debt to EBITDA ratio and bring it closer to 2.5x by March 24,” Karan Adani said.
6. Adani Ports handled 24 per cent of the country’s total cargo during the nine-month period ended December. Port EBITDA grew 20 per cent year-on-year (YoY) to Rs 9562 crore during the same period, on the back of strong improvement in realizations and cargo volume growth.
7. Adani Ports, that continues to be one of the most profitable port companies globally, handled 252.9 MMT of cargo, with 8 per cent YoY growth. The growth in cargo volume was led by coal (23 per cent), liquid (excluding crude) (8 per cent) and containers (5 per cent).
8. Adani’s Mundra port continues to be the largest container handling port with 4.88 million Twenty Equipment Units (TEUs) versus 4.45 million TEUs managed by JNPT during the nine months that ended December period.
9. Supported by margin expansion of 400 basis points with improved utilization of assets and increased share of the GPWIS revenue stream, the EBITDA of the logistics business segment jumped 66 per cent YoY to Rs 354 crore.
10. “Given our increased focus of providing supply chain solutions to our customers at their doorstep, our logistics business segment is experiencing phenomenal growth,” the company said in a filing.