Adani Ports PAT falls 17% to Rs 1,092 crore

The Ahmedabad-based Adani Group company’s consolidated revenue declined marginally to Rs 4,638 crore during the April-June period this year.

Adani Ports PAT falls 17% to Rs 1,092 crore
APSEZ’s consolidated Ebitda jumped by 11% to hit Rs 3,005 crore against Rs 2,716 crore in the same period of 2021-22.

Adani Ports and Special Economic Zone (APSEZ) on Monday posted a consolidated profit after tax (PAT) of Rs 1,092 crore for the first quarter of FY23, 17% lower on a year-on-year basis against Rs 1,313 crore during the same period a year ago.

The Ahmedabad-based Adani Group company’s consolidated revenue declined marginally to Rs 4,638 crore during the April-June period this year.

“The quarter remained the strongest in APSEZ’s history with a record cargo volume and highest-ever quarterly Ebitda,” Karan Adani, CEO and wholetime director, said  after the announcement of the results. APSEZ’s consolidated Ebitda jumped by 11% to hit Rs 3,005 crore against Rs 2,716 crore in the same period of 2021-22.

The ports business (cargo handled) increased by 8% y-o-y growth in volumes from 84.36 MMT to 90.89 MMT. The growth in cargo volume was led by dry cargo (+11.2% increase), followed by containers (+3.2%), and liquids including crude (+5.6%). The automobile segment, though a small proportion of overall volumes, saw a 120% jump in volumes.

“We are confident of achieving our full year guidance of 350-360 MMT cargo volumes and Ebitda of Rs 12,200-12,600 crore. APSEZ remains committed to its philosophy of ensuring sustainable growth in partnership with our key stakeholders,” Adani added.

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