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Adani Ports saw a 76% surge in Q4 profits, reaching ₹2,040 crore, and a 19% rise in operational revenue.
The company also announced a dividend of ₹6 per equity share.
Boosted by record cargo volumes of 109 million metric tons in the January-March quarter, the company's domestic cargo volumes grew by 21%, outpacing India's overall growth.
Adani Ports, which operates 13 ports across India, is set to handle 500 million metric tons of cargo by 2025.

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APSEZ has declared a dividend of ₹6 per share

Adani Ports's Q4 profit surges 76% to ₹2,040 crore

By Mudit Dube

May 02, 2024

02:36 pm

What's the story

Adani Ports and Special Economic Zone Limited (APSEZ) has reported a significant 76% increase in its consolidated net profit for the quarter ending March 31, 2024. The profit rose to ₹2,040 crore, primarily driven by an increase in cargo volumes. This is a substantial rise from the ₹1,158 crore net profit recorded during the same period last year.

Revenue growth

Operational revenue and dividend declaration by Adani Ports

In addition to the profit surge, APSEZ also saw a 19% increase in operational revenue, which climbed to ₹6,897 crore in Q4FY24 from ₹5,797 crore in Q4FY23. Along with this financial growth, the company declared a dividend of ₹6 per equity share of ₹2 face value for the fiscal year 2023-24. On May 2, shares of Adani Ports were trading at an elevated rate of 1.2%, priced at ₹1,341 each.

Cargo growth

Record cargo volumes and future projections for APSEZ

APSEZ marked its highest ever quarterly volumes at 109 million metric tons (MMT) during the January-March quarter. The company's domestic cargo volumes grew by an impressive 21% YoY, surpassing India's overall cargo volume growth of 7.5% in FY24. Ashwani Gupta, CEO of APSEZ, stated that the company is well-positioned to handle 500 MMT of cargo volumes in 2025. Currently, APSEZ operates 13 ports and terminals across India.