or January-March quarter, the Adani Group company's net profit almost quadrupled to Rs 1,321 crore from Rs 340 crore in the year-ago quarter.
Adani Ports and Special Economic Zone Ltd (APSEZ) on Tuesday reported 33 per cent year-on-year increase in consolidated net profit at Rs 5,049 crore for financial year 2020-21.
Led by a 11 per cent growth in cargo to 247 million metric tonnes (MMT) during FY21, operating revenue rose 6 per cent to Rs 12,550 crore. Overall cargo volume handled also included volume of Krishnapatnam Port which was acquired by APSEZ in October last year.
While port revenue grew 12 per cent to Rs 10,739 crore in FY21, port EBITDA rose 15 per cent to Rs 7,560 crore. Port EBITDA margin expanded 100 basis points to 70 per cent in FY21.
For January-March quarter, the Adani Group company's net profit almost quadrupled to Rs 1,321 crore from Rs 340 crore in the year-ago quarter on the back of 27 per cent growth in cargo volume to 73 MMT.
"FY21 has been a transformational year for APSEZ. Some of the key decisions we took this year have set the foundation for the coming decade. Our customer centric approach has yielded good result for us as our market share increased by 4 per cent on a pan-India basis," APSEZ CEO and whole time director Karan Adani said.
The recent changes in the General Purpose Wagon Investment Scheme (GPWIS) of Indian railways has given opportunity to serve bulk customers not just from ports but also from mines and the company was able to add contracts to operate 16 new rakes for transportation of raw material from the mines, he said.
Adani guided for cargo volume to be in the range of 310-320 MMT in FY22, including 10 MMT of Gangavaram port in Q4 FY22. Consolidated revenue will be in the range of Rs 16,000 crore to Rs 16,800 crore, while free cash flow will be in the range of Rs 5,500 crore to Rs 6,000 crore, he added.