Adani Ports Q4 profit rises 39% to Rs 1,285 crore on drop in expenditure
Analysts in an ET NOW poll had projected a profit of Rs 1,384 crore.
Adani Ports and SEZ on Monday reported a 38.69 per cent year-on-year rise in consolidated profit at Rs 1,285.38 crore for the quarter ended March 31. The port operator had posted a net of Rs 926.77 crore (attributable to shareholders) in the corresponding quarter last year.
Analysts in an ET NOW poll had projected a profit of Rs 1,384 crore.
Total income, however, stood flat Rs 3,492.72 crore against Rs 3,487.29 crore in the same period last year.
Consolidated total expenditure declined to Rs 1,840.35 crore during January-March period this year against Rs 2,162.10 crore in the corresponding quarter last year.
The board has given approval for issuance of NCDs for refinancing of existing borrowing and general corporate purpose for an amount not exceeding Rs 1,500 crore in one or more tranches on private placement basis.
The company will be paying a combination of dividend and buyback of shares to the shareholders which will be announced by June 9.
Net debt of the company stood at Rs 20,707 crore as of March 31 against Rs 17,945 crore a year ago. Net debt-to-Ebitda increased to 2.9 times from 2.50 times during the same period.
Return on capital employed declined to 13.50 per cent in FY19 against 15.80 per cent in FY18.
“We continue to maintain net debt-to-Ebitda within our desired level of under three times,” Adani Ports said in a release.
Analysts in an ET NOW poll had projected a profit of Rs 1,384 crore.
Total income, however, stood flat Rs 3,492.72 crore against Rs 3,487.29 crore in the same period last year.
Consolidated total expenditure declined to Rs 1,840.35 crore during January-March period this year against Rs 2,162.10 crore in the corresponding quarter last year.
The board has given approval for issuance of NCDs for refinancing of existing borrowing and general corporate purpose for an amount not exceeding Rs 1,500 crore in one or more tranches on private placement basis.
The company will be paying a combination of dividend and buyback of shares to the shareholders which will be announced by June 9.
Net debt of the company stood at Rs 20,707 crore as of March 31 against Rs 17,945 crore a year ago. Net debt-to-Ebitda increased to 2.9 times from 2.50 times during the same period.
Return on capital employed declined to 13.50 per cent in FY19 against 15.80 per cent in FY18.
“We continue to maintain net debt-to-Ebitda within our desired level of under three times,” Adani Ports said in a release.