Adani Ports and Special Economic Zone (APSEZ) on Tuesday reported a 6.20 per cent decline in consolidated profit to Rs 1,478.76 crore for the third quarter ended December 2021.
The country’s largest integrated logistics player had clocked a consolidated profit of Rs 1,576.53 crore in the corresponding period a year ago, according to a regulatory filing.
Its total consolidated income increased to Rs 4,422.73 crore in the December 2021 quarter, from Rs 4,274.79 crore in the year-ago period.
The company’s total expenses during October-December 2021 rose to Rs 2,738.86 crore, compared with Rs 2,258.62 crore in the year-ago period.
Karan Adani, chief executive officer and whole-time director of APSEZ, said, “APSEZ had shown tremendous resilience all through the pandemic period. Our learnings in 2020 helped us weather the storm and our operational expertise allowed us to continue our expansion.” He added that the company’s under-construction port of Vizhinjam in Kerala, along with its new terminal at Colombo in Sri Lanka, will act as a new transhipment hub in Southeast Asia.
“The addition of two ports in 2021 – Krishnapatnam and Gangavaram in Andhra Pradesh on the eastern coast of India – to the ones on the western coast continued to tighten our pan-India presence,” Adani said.
APSEZ in a statement said it continues to outperform all-India cargo volume growth and it achieved a cargo volume of 68 million metric tonnes (MMT).
It added that the growth in cargo volume was led by containers that grew 25 per cent, dry cargo rose 21 per cent, and liquids (including crude) jumped by 22 per cent.
The statement said non-Mundra ports in the portfolio are growing faster and have contributed 47 per cent to the cargo basket, which is the growth of seven percentage points.
Mundra continues to be the largest container handling port with 4.9 million TEUs (twenty-foot equivalent unit), which is 0.72 million TEUs higher than JNPT.
According to the statement, Adani Logistics Ltd (ALL) registered a 25 per cent growth in rail volume to 2,84,477 TEUs and a 13 per cent growth in terminal volume to 2,11,679 TEUs.
It also said APSEZ has scaled up its ambition for renewable electricity beyond the earlier announced 100-megawatt (MW) generation capacity.
The statement noted that APSEZ has till now acquired 31.5 per cent of GPL from Warbug Pincus on March 3, 2021, and further acquired 10.4 per cent from the government of Andhra Pradesh on September 22, 2021.
“Post-approval from NCLT, GPL will be consolidated retrospectively from April 1, 2021, which will add revenue of approximately Rs 1,200 crore and Ebitda of Rs 800 crore for the full year of FY22,” it said.
Ebitda stands for earnings before interest, tax, depreciation and amortisation.
APSEZ, part of Adani Group, is the largest port developer and operator in India.
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