Home Business Adani Ports Q3 Results: Net Profit Sinks 13 Per Cent To Rs 1,336 Crore

Adani Ports Q3 Results: Net Profit Sinks 13 Per Cent To Rs 1,336 Crore

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Adani Ports and Particular Financial Zone (APSEZ) on Tuesday clocked a 12.94 per cent decline in consolidated revenue to Rs 1,336.51 crore for the third quarter ended December 2022. APSEZ, the nation’s largest built-in logistics participant, had clocked a consolidated revenue of Rs 1,535.28 crore a yr in the past, in line with a regulatory submitting.

Its whole consolidated earnings elevated to Rs 5,051.17 crore within the December 2022 quarter from Rs 4,713.37 crore within the year-ago interval. The corporate’s whole bills in October-December 2022 rose to Rs 3,507.18 crore in comparison with Rs 2,924.30 crore within the year-ago interval.

Karan Adani, chief government officer and whole-time director of APSEZ, stated, “The corporate additionally concluded the transactions of Haifa Port Firm, IOTL, ICD Tumb, Ocean Sparkle and Gangavaram Port, and is progressing effectively on transitioning its enterprise mannequin to a transport utility”.

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APSEZ is concentrating on FY24 EBITDA of Rs 14,500-15,000 crore, he stated. “In addition to an estimated capital expenditure of Rs 4,000-4,500 crore, we’re contemplating whole mortgage reimbursement and prepayment of round Rs 5,000 crore, which is able to considerably enhance our web debt to EBITDA ratio and produce it nearer to 2.5x by March 24,” Adani stated.

APSEZ’s web debt to EBITDA ratio is effectively inside the firm’s guided vary of 3-3.5x, he famous.

The corporate, in an announcement, stated it has dealt with 252.9 MMT (million metric tonnes) of cargo within the first 9 months of the present fiscal yr. 

APSEZ’s shares on Tuesday closed at Rs 553.30 apiece, an increase of 1.33 per cent on the BSE.

On Monday, Adani Transmission Ltd logged a virtually 73 per cent soar in its consolidated web revenue to Rs 478 crore within the December quarter (Q3) of 2022-23 on the again of a one-time earnings acquire and better revenues. The consolidated web revenue of the corporate was Rs 277 crore within the quarter ended on December 31, 2022.

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