On a consolidated basis, Adani Ports & Special Economic Zone (APSEZ) posted a 16.23% increase in net profit to Rs 1576.53 crore on 11.59% rise in total income to Rs 4274.49 crore in Q3 FY21 over Q3 FY20.
Total operating revenue grew by 12% to Rs 3,746 crore in Q3 FY21 from Rs 3,336 crore in Q3 FY20. Port revenue has increased by 35% and revenue from logistics business increased by 8% during the period under review. Consolidated operating EBITDA grew by 9% to Rs 2,488 crore in Q3 FY21 from Rs 2,287 crore in Q3 FY20.Consolidated profit before tax rose by 15.71% to Rs 2012.5 crore in Q3 FY21 from Rs 1738.87 crore in Q3 FY20. Current tax expense jumped to Rs 394.87 crore in Q3 FY21 as against Rs 270.36 crore in Q3 FY20.
The cargo volume surged 37% year on year to 76 MMT in Q3 FY21 as against 56 MMT in Q3 FY20. Overall cargo volume handled by APSEZ excluding Krishnapatnam Port which was acquired in October 2020 was 67 MMT, a growth of 20% on a year on year basis. In Q3 FY21, Krishnapatnam Port handled a cargo volume of 10 MMT.
Commenting on company's performance, Karan Adani, CEO of APSEZ said, "Our portfolio of assets, increasing market share in India, and pre-eminence of our network with leadership positions have an unparalleled value proposition. Our team at APSEZ continues to innovate and establish operational excellence as the key differentiator, thus improving margins. For instance, at KPCL, which was acquired in October, we have improved the EBIDTA margin from 55% to 71%. APSEZ is well on course to achieve 500 MMT of cargo throughput by FY25. APSEZ will be investing in the logistics and warehousing business with increased investment in Tracks, Rakes as well as land for developing multimodal logistics parks and warehousing facility. Our businesses and future investments are aligned to sustainable growth with a focus on preserving the environment."
APSEZ, a part of globally diversified Adani Group, is the largest port developer and operator in India.
Shares of Adani Ports were down 0.15% at Rs 580.85 on BSE.
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