The country’s largest ports company Adani Ports and Special Economic Zone announced its financial results on Tuesday.
Adani Ports Financial Results: The country’s largest ports company Adani Ports and Special Economic Zone announced its financial results on Tuesday. The consolidated profit of the company during the quarter from January to March 2021 increased by 288% to 1321 crores as compared to the same period last year. The consolidated net profit of the company was Rs 340.21 crore during January to March 2020. The company has also announced a dividend rate of Rs 5 per share to its shareholders.
The company has told in the information given to BSE that its consolidated total income increased to Rs 4,072.42 crore in the fourth quarter. In the same period of last year, this income was Rs 3,360.17 crore. The total expenditure of the company decreased to Rs 2,526.91 crore in the fourth quarter, compared to 3,099.18 in the fourth quarter of its previous business year.
Operating income increased by nearly 24 percent
The company’s operating income grew nearly 24 per cent to Rs 3,608 crore during January-March 2021, as compared to Rs 2,921 crore in the fourth quarter of its last financial year. The company’s total operating income increased 6 percent to 12,550 for the entire fiscal year 2020-21. In FY 2019-20, this figure was Rs 11,873 crore. EBITDA of the company’s port business increased by 15 per cent to Rs 7,560 crore in 2020-21 due to increased cargo volumes and better operational efficiency, compared to Rs 6,593 crore in its last financial year.
The company is ready to pursue a partnership with the railways
Announcing the results, Adani Ports CEO Karan Adani said that the business year of 2020-21 brought great opportunities for new growth for his company. During this time, the company made many such decisions, which will serve as the foundation for its development in the coming decades. Karan Adani said that Mundra Port became the largest port in the country this year. The company also acquired Krishnapatnam Port, Gangavaram Port, Dighi Port and Surguja Rail Line during this year. With this, now the company has a total of 13 ports in the country.
He said that with the acquisition of Surguja Rail and the restructuring of many more railway tracks, the company is now ready to pursue a partnership with Indian Railways. In addition, the company will now invest in several strategically important railway lines of the country under the PPP model.
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