Adani Co.Reports 5% YoY Growth In Net Profit For Q4, Declares Dividend Of Rs.5/ Share

Adani Ports and Special Economic Zone (APSEZ) reported a consolidated net profit of Rs 1,159 crore for the quarter ended March, marking a marginal 5% year-on-year growth. Meanwhile, its sales surged by an impressive 40% during the same period.

The company's net profit increased by 9% year on year to Rs 5,310 crore in FY23, while revenue increased by 22% to Rs 20,852 crore.

The Adani Group firm posted its highest-ever port cargo volumes of 339 million tonnes in FY23, a 9% increase over the previous year.

Operating profit, assessed as profits before interest, taxes, depreciation, and amortisation (EBITDA), increased 21% to 12,833 crore in FY23.

Consolidated EBITDA for the March quarter was Rs 3,271 crore, up from Rs 2,581 crore the previous year. The ports company reported an EBITDA of Rs 3,066 crore, up from Rs 2,443 crore the previous year.

The Board has recommended a dividend of Rs. 5/- (@ 250%) each fully paid-up equity share for the fiscal year 2022-23, subject to shareholder approval at the upcoming Annual General Meeting.

Ahead of the earnings, the company's shares closed 0.5% lower on the NSE at Rs 734. Its 52-week low is Rs. 394.95 per share and its 52-week high is Rs. 987.90 per share.

ASPEZ acquired six acquisitions (Gangavaram Port, Haifa Port Company, IOTL, Karaikal Port, ICD Tumb and Ocean Sparkle) during the year, representing an investment of around Rs 18,000 crore. The entire capex for the year was roughly Rs 9,000 crore.