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Adani Ports Q4 net profit rises 76% to ₹2,040 crore, declares ₹6 dividend
Adani Ports Q4 results: The company declared dividend of ₹6 per equity share of ₹2 face value for the FY2023-24.
Adani Ports Q4 results: Adani Ports reported 76% jump in consolidated net profit at ₹2,040 crore for the quarter ended March 31, 2024. The Adani Group firm's revenue from operations rose 19% to ₹6,897 crore in Q4FY24. The company declared dividend of ₹6 per equity share of ₹2 face value for the FY2023-24.
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Ashwani Gupta, Whole-Time Director & CEO, APSEZ said, “FY24 has been a year of many new milestones for APSEZ on both operational and financial metrics. APSEZ outperformed its upper end of guidance provided at the beginning of the financial year on cargo, revenue, and EBITDA by 6%-8%, while closing the year with net debt to EBITDA ratio of 2.3x vs its guidance of 2.5x. Clearly, the company’s business model of end-to-end service, strategic partnership with key customers, leveraging the network effect through its string of ports, and focus on operational efficiencies is yielding results."
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"With incremental cargo volumes of 100 MMT achieved in less than two years, APSEZ is well poised to achieve 500 MMT of cargo volumes in 2025, aided by recently acquired Gopalpur Port, and the scheduled commissioning of Vizhinjam Port in the current year and WCT next year. We continue to invest heavily in the business to drive growth, particularly in the logistics segment. Our newly launched trucking segment enables APSEZ to provide the last-mile connectivity solution to its customers. Our efforts towards sustainable business growth are well recognized in the top decile ESG rating from four global rating agencies,” he added.
