Adani Ports Q4 results: Net profit jumps 77% YoY to ₹2,014.77 crore

Adani Ports and Special Economic Zone Limited's consolidated net profit surged 76.87% to ₹2,014.77 crore for the fourth quarter of the financial year 2023-24 (Q4 FY24) as compared to ₹1,139.07 crore in the year-ago period.

The country's largest integrated logistics player's total income surged to ₹7,199.94 crore for the January-March quarter of year that ended March 31, 2024 against ₹6,178.35 crore in the corresponding period of the previous fiscal.

The total expenses jumped to ₹4,450.52 crore in the fourth quarter of FY24 from ₹3,995 crore in the year-ago period.

The company has also recommended a dividend ₹ 6 per equity share of ₹2 each for FY24, subject to the approval of shareholders.

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Ten ports record lifetime high cargo volumes

The Adani Group company said that Mudra port handed 7.4 million TEUs (twenty-foot equivalent units) in the previous fiscal, which is 15% higher than its nearest competitor. Ten of Adani Ports and SEZ's ports from the India portfolio also recorded their lifetime high cargo volumes for the year.

The stock was trading 1% higher at ₹1,338 on the NSE. On the BSE, the scrip was at ₹1339, up 1%.

Adani Ports handles 36.2 MMT cargo globally in April

In a regulatory filing, Adani Ports and Special Economic Zone, which is part of Adani Group, said it handled 36.2 million metric tonnes (MMT) of cargo in April, reflecting a 12% year-on-year growth.

The company recorded growth across most domestic ports, with Dhamra Port achieving its highest ever monthly cargo of 4.38 MMT.

"Growth recorded across the three broad cargo categories i.e., dry (+7% YoY), liquid & gas (+29 per cent), and Container (+14 per cent), it added.

Billionaire Gautam Adani's firm said growth in the logistics segment continued with rail volumes rising by 5% YoY to 49,430 TEUs and GPWIS (general purpose wagon Investment scheme) volumes increasing by 26 per cent to 1.8 MMT.