Adani Ports and Special Economic Zone (SEZ) posted its quarterly earnings report on February 1, 2022. The posted a 52.3% quarter on quarter (QoQ) jump in its consolidated profit after tax (PAT) to Rs 1,472 crore from Rs 970 crore in the previous quarter. On a year on year (YoY) basis, the company saw a 6.2% dip in the PAT from Rs 1,576 crore in the year ago period.
Adani Ports SEZ’s revenue from operations grew by 4.8% QoQ to Rs 3,797 crore from Rs 3,620 crore in Q2 FY22 while the revenue from operations jumped by a marginal 1.3% YoY from Rs 3,746 crore in Q3 FY21. The company’s other income saw a 13% QoQ increase to Rs 625 crore from Rs 553 crore while there was an 18% YoY jump in the other income from Rs 528 crore.
The company’s total expenses saw a significant jump of 21% YoY to Rs 2,738 crore from Rs 2,258 crore in Q3 FY21. The stock of Adani Ports SEZ closed in the green at Rs 738.75 per share after climbing 3.13% at the end of the intraday trading session ahead of its quarterly results on February 1, 2022.
Ports & SEZ Activities: Revenue down 3.5% YoY to Rs 3,350 crore from Rs 3,475 crore in Q3 FY21
Others: Revenue up 46% YoY to Rs 477 crore from Rs 326 crore in Q3 FY21
Karan Adani, Chief Executive Officer and Whole Time Director of Adani Ports & SEZ said, ““Our learnings in 2020 helped us weather the storm and our operational expertise allowed us to continue our expansion. The addition of two ports in 2021 – Krishnapatnam and Gangavaram in Andhra Pradesh on the east coast of India – to the ones on the west coast continued to tighten our panIndia presence. Our under-construction port of Vizhinjam in Kerala, along with our new terminal in Colombo, Sri Lanka, will act as a new transshipment hub in southeast Asia. Our carbon offsetting, mangrove afforestation and terrestrial plantation, as well as our extensive focus on the use of renewable energies, have meant that APSEZ is well on the road to achieving carbon neutrality by 2025 and becoming the world’s most sustainable ports company.”
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Research Analyst: Bavadharini KS