APSEZ quarterly profit falls 22 pc to Rs 1,033 crore

APSEZ quarterly profit falls 22 pc to Rs 1,033 crore

Adani Ports and Special Economic Zone Limited (APSEZ) has reported a 21.78 per cent decline in consolidated net profit to Rs 1,033 crore for the fourth quarter ended March 2022.

The country’s largest integrated logistics player had clocked a consolidated net profit of Rs 1,321 crore in the corresponding period of the previous fiscal, according to a BSE filing late Tuesday.

adani ports and special economic zone limited quarterly profit falls 22 per cent to rs 1,033

Consolidated total income of the company increased to Rs 4,417.87 crore for the fourth quarter of the last fiscal as against Rs 4,072.42 crore in the year-ago period.

Total expenses also rose to Rs 3,309.18 crore in the latest quarter under review as against Rs 2,526.91 crore in the same period a year ago.

Chief Executive Officer and Whole Time Director of APSEZ Karan Adani said FY22 has been a stellar year for APSEZ, with achievement of various milestones for itself and new benchmarks for India’s maritime industry.

According to a company statement , it did a record cargo volume of 312 MMT with Mundra port alone handling 150 MMT, a feat never achieved by any other commercial port in the country.

apsez quarterly profit falls 22 pc to rs 1,033 crore

The company also reported a 5 per cent decline in consolidated net profit to Rs 5,048.74 crore in FY22 against Rs 4,795.24 crore in FY21.

In 2021-22, consolidated revenue (excluding Gangavaram) grew 27 per cent to Rs 15,934 crore on the back of well-rounded growth registered by three key business segments — ports, logistics and SEZ.

The statement said the growth in cargo volume in 2021-22 was led by dry cargo (42 per cent increase), followed by containers (14 per cent) and liquids (19 per cent). Adani Logistics Ltd (ALL), registered a 29 per cent growth in rail volume to 403,737 TEUs and a 19 per cent growth in terminal volume to 301,483 TEUs.

As per the statement, the acquisitions in FY22 implied an investment of around Rs 11,400 crore for APSEZ and was successfully managed alongside an organic capex of around Rs 3,750 crore.

“We cruised on our journey of becoming India’s largest transport utility with achievement of various milestones by our logistics business.

“These include investment in around 100 trains, eight operational MMLPs and total grain silo capacity of around 1.2 MMT, all by FY23,” the statement said.

During 2021-22, APSEZ concluded two very strategic partnerships ensuring sustainable business growth.

adani port

“The first being a JV with John Keells Holdings & Sri Lanka Port Authority for construction of Colombo West International Terminal-II; and the second is a partnership with Flipkart for the construction of a 534,000 sq. ft. fulfilment centre in the upcoming logistics hub at Mumbai,” the statement said.

APSEZ through its subsidiary, The Adani Harbour Services Ltd (TAHSL), has acquired 100 per cent stake in Ocean Sparkle Ltd (OSL)

See also  Lidar startup Ouster raises $60 million in production run-up

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button

Adblock Detected

Please consider supporting us by disabling your ad blocker