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Adani Ports Shares Tank More Than 5% Over Insipid Q4FY22 Earnings Report

and Special Economic Zone

India’s largest private multi-port operator Adani Ports and Special Economic Zone reported its financial report for the quarter ending March 2022 with total expenses increasing on declining net profit on a year-on-year basis.

The company’s consolidated net profit plummeted 21.78% YoY to Rs 1,033 crore in the fourth quarter from Rs 1,321 crore in the corresponding quarter of last fiscal. Overall expenses of the company increased 31% YoY to Rs 3,310 crore in the quarter under review due to an upward trend in foreign exchange losses, which stands at Rs 524 crore in the quarter as against a net gain of Rs 24 crore in the year-ago period.

Adani Port’s consolidated total income saw an uptick of 8.5% YoY to Rs 4,417.87 crore in Q4FY22, while consolidated revenues from operations leaped 6.6% YoY to Rs 3,608 crore in the just-ended quarter. 

The company said it attained a total cargo volume of 312 MMT, up 26 percent year on year. Its consolidated EBITDA (excluding Gangavaram) increased by 22 percent to Rs 9,811 crore, all thanks to 27 percent growth witnessed in revenue.

Consolidated revenue of Adani Ports (excluding Gangavaram) increased by 27 percent to Rs 15,934 crore on the back of growth in port, logistics, and SEZ. 

Port revenue stood at Rs 12,964 crore, up 27 percent YoY. Revenue from the logistics business came in at Rs 1,208 crore, up 26 percent YoY.  

On the standalone basis, Loss per share during the quarter under review stood at Rs 2.85 apiece, while in the third quarter, the company posted earnings per share at Rs 2.29.  

The company said it expanded via acquisitions worth ~Rs 11,400 crore while maintaining the credit quality. 

CEO Karan Adani said, “FY22 has been a stellar year for APSEZ, with the achievement of various milestones for itself and new benchmarks for India’s maritime industry.” 

Dividend:

Adani Ports and Special Economic Zone (SEZ) Limited said its board has recommended a dividend at 250% ( ₹5) of ₹2 each for the financial year 2021-22.

“The board has recommended a dividend at 250% ( ₹5) per equity share of ₹2 each fully paid up for the financial year 2021-22, subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM),” the Adani Group company informed in an exchange filing.

The shares of Adani Ports, on Wednesday, plummeted more than 5% over the declaration of the earnings report. 

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Harshita Sharma

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