Adani Ports and Special Economic Zone Limited, also called APSEZ, has posted a remarkable growth in its quarterly results published on 3rd August 2021. The company boasted of a 77.04% year-on-year (y-o-y) increase in net profit, from Rs 757.83 crore reported last year to Rs 1,341.69 crore this year.
The Adani Ports Q1 Results showed an increase in revenue from operations also and had an impressive growth of 98.8% y-o-y. It rose from Rs 2,292.7 crore last year to Rs 4,556.8 crore this year.
The growth in cargo handling increased 83% y-o-y as it upped cargo from 41 MMT to 76 MMT at the end of the first quarter of the new financial year. This growth in cargo resulted from the handling of multiple commodities across the different ports of the company. It is noteworthy that APSEZ is the largest port developer and operator in India with 12 strategically located ports and terminals, representing 24% of the country’s total port capacity.
The EBITDA rose by 60% on a y-o-y basis from Rs 1,395 crore to Rs 2,231.7 crore.
At the end of the trading day, the shares of the company closed 2.6% higher on the NSE at Rs 709.8.
“Our strategy of establishing a network of world-class ports to balance cargo across the east and west coast has been tracked precisely as per plan, thereby continuing to de-risk our growth as well as lay the foundation of a broader logistics platform. This has resulted in APSEZ accelerating its market share gain,” said Mr Karan Adani, Chief Executive Officer and Whole Time Director of APSEZ.
The Adani Ports Q1 Results show that the company may have the potential for future growth. With aggressive expansion measures through acquisitions, Adani Ports has boosted its market capitalisation as well. Profit growth for the company exceeds predictions done by market analysts. With further easing of lockdown norms and normalcy in business activities post the effects of the pandemic could push the company’s growth to newer heights, according to management.