Adani Ports and Special Economic Zone (APSEZ) operating income rose 18% to Rs 4,786 crore in the December quarter. The company today announced revenue of Rs 4,072 crore for the same quarter of 2021.
APSEZ announced earnings for the October-December quarter of 2022 and the first three quarters of 2022-23 on Tuesday.
Adani group of companies posted an 18% rise in operating income to Rs 4,786 crore in the fourth quarter of last year. In the same quarter of 2021, the revenue was Rs 4,072 Cr.
Revenue for the first three quarters of 2022-23 rose 16% to Rs 15,055 crore.
However, its profit after tax fell 13% to Rs 1,337 in the December quarter. 15.35 billion rupees in the same period last year.
Overall profit for the three quarters rose 11% year-on-year to Rs 4,252 crore.
The company is well positioned to meet the upper end of its full-year revenue and EBITDA guidance for 2022-23.
“The company has also completed deals for Haifa Port Company, IOTL, ICD Tumb, Ocean Sparkle and Gangavaram Port and is well on track to transition its business model into a transport utility,” said Karan Adani, CEO and full-time director of Adani Ports and special economic zone.
“Continuing on our growth journey, APSEZ is targeting an EBITDA of Rs 14,500-15,000 for FY24. We are looking at total loan repayments and prepayments of around Rs 5,000 in addition to an estimated capex of Rs 4,000-4,500, which will significantly We will continue to improve our net debt to EBITDA ratio and bring it closer to 2.5 times by March 24,” added Karan Adani.
(Aside from the title, this story is unedited by NDTV staff and published via a syndicated feed.)
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