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Adani Ports and Special Economic Zone Ltd (APSEZ) said its net profit for the January to March quarter soared 288 per cent to ₹1,320.69 crore from ₹340.21 crore a year ago.
The company’s operating revenue during the fourth quarter jumped 24 per cent to ₹3,607.90 crore from ₹2,921.19 crore a year earlier.
For the full year, India’s biggest private port operator reported a net profit of ₹5,048.74 crore, an increase of 33 per cent on ₹3,784.53 crore in FY20, the company said in a regulatory filing. The full year operating revenue rose 6 per cent to ₹12,549.60 crore from ₹11,873.07 crore a year earlier.
The board of APSEZ has recommended a dividend of ₹5 per equity share.
Volumes handled
During FY21, APSEZ handled 247 million tonnes (mt) of cargo, 11 per cent more than the 223 mt handled in FY20, on the back of 16 per cent growth in container and 9 per cent growth in dry bulk cargo.
APSEZ handled the highest ever container volume of 7.2 million twenty-foot equivalent units (TEUs) during FY21 and increased its market share to 41 per cent pan-India.
Mundra Port became India’s largest container port in FY21 by handling 5.66 million TEUs, which is nearly one million TEUs more than state-owned Jawaharlal Nehru Port Trust (JNPT).
“FY21 has been a transformational year for APSEZ,” said Karan Adani, Chief Executive Officer and Whole Time Director of 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. Mundra port, which is the largest commercial port in the country, also become the largest container port in the country surpassing JNPT by a big leap,” he said.
“We have also been able to restructure our cost fundamentally and were able to demonstrate an increase in EBIDTA margin by 1 per cent taking our port margins to 70 per cent,” he added.
Buys and new ventures
On the growth side, he said APSEZ completed four large acquisitions — Krishnapattanam port, Gangavaram port, Dighi port and Sarguja Rail line — for ₹26,000 crore taking the total portfolio to 13 ports.
“We have also been able to take another milestone step in our international journey by foraying into container terminal in Colombo port. With these steps we are in the right direction to take APSEZ from a port company to a transport utility company delivering full logistics solution to our customers,” he added.
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