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Adani Ports Q1 results: Net profit jumps 77% to Rs 1,342 crore; raises cargo volume guidance to 350-360 mmt

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Adani Ports and Special Economic Zone handled 76 MMT of cargo in Q1 FY22 compared to 41 MMT in Q1 FY21, registering a growth of 83% compared to 33% growth registered by All India cargo.

Adani Ports Q1 results: Net profit jumps 77% to Rs 1,342 crore; raises cargo volume guidance to 350-360 mmt
Adani Ports and Special Economic Zone Ltd (APSEZ), the country's largest integrated logistics player, on Tuesday reported a 77.04 percent rise in consolidated net profit at Rs 1,341.69 crore for the first quarter of fiscal 2022.
The company had posted a consolidated net profit of Rs 757.83 crore in the corresponding period a year earlier.
Revenue from operations during Q1FY22 jumped 98.8 percent to Rs 4,556.8 crore as compared to Rs 2,292.7 crore, YoY.
"APSEZ handled 76 MMT of cargo in Q1 FY22 compared to 41 MMT in Q1 FY21, registering a growth of 83% compared to 33% growth registered by All India cargo. This was on account of continued focus on handling multi commodities across various ports," the company said in a regulatory filing
The growth in cargo volume was led by dry cargo which grew by 104 percent, container by 69 percent, liquids (including crude) by 57 percent and the addition of new products including LNG and LPG to the cargo basket, it added.
At the operating level, EBITDA increased 60 percent to Rs 2,231.7 crore from Rs 1,395 crore. YoY.
APSEZ revised its cargo volume guidance to 350-360 mmt from 310-320 mmt.  Consolidated revenue guidance has been raised to Rs 18,000-18,800 crore from Rs 16,000-16,800 crore.
EBITDA is now seen at Rs 11,500-12,000 crore versus earlier guidance of Rs 10,200-10,700 crore.
In the container segment, APSEZ handled 2.08 Mn TEUs, a growth of 69 percent as against 4.87 Mn TEUs handled at all India levels, which grew by 51 percent. Container market share increased by 163 bps and now stands at 42.7 percent.
On Tuesday, the shares of Adani Ports & SEZ ended 1.9 percent higher at Rs 705.20 apiece on the BSE.