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Adani Ports’ net profit drops 22% YoY on high expenses in Q4, splitting reservoir 5%

By on May 25, 2022 0

By Malvika Gurung

Investing.com — The country’s largest private multi-port operator, Adani (NS:) Ports and Special Economic Zone, has released its earnings report for the quarter ending March, with total spending up and a net profit down year-on-year.

The company’s consolidated net profit fell 21.78% year-on-year to Rs 1,033 crore in the fourth quarter of FY22 as overall expenses jumped 31% year-on-year to 3 Rs 310 crore, driven by a sharp increase in foreign exchange losses amounting to Rs 524 crore in the quarter, compared to a net gain of Rs 24 crore in the period a year ago.

Its consolidated total revenue rose 8.5% year-on-year to Rs 4,417.87 crore in the fourth quarter, while consolidated operations revenue grew 6.6% y-o-y to Rs 3,608 crore. rupees during the March quarter.

In FY22, the Adani Group company’s financials looked like this:

  • Consolidated net profit fell 5% year-on-year to Rs 4,795 crore,
  • Consolidated revenue from operations jumped 27% year-on-year to Rs 15,934 crore,
  • Total expenditure jumped 50% year-on-year to Rs 12,335 crore amid currency losses and high finance costs, and
  • Overall EBITDA increased by 22% year-on-year to Rs 9,811 crore.

Furthermore, the company’s CEO, Karan Adani, said it achieved a record cargo volume of 312 MMT, with Mundra Port alone handling 150 MMT, a feat never before achieved by any other commercial port in the country. .

Shares of the company fell 5% to Rs 714.55 apiece as of 12:47 p.m.