The results for the financial year 2023-24 have been presented by Adani Port, an Adani Group company. There has been a 50 percent jump in the company’s profit and it has reached Rs 8,104 crore. In the last financial year this figure was Rs 5,391 crore.
The company’s income in the financial year 2023-24 has been Rs 26,711 crore. In the last financial year it was at Rs 20,852 crore. The company’s EBITDA has increased from Rs 10,947 crore to Rs 15,715 crore in the last one year.
Profit increased by 77 percent in the fourth quarter
In the period from January to March, the company’s profits have seen an increase of 77 percent. The company has registered a profit of Rs 2,015 crore in the fourth quarter. It was earlier at Rs 1,139 crore. The company’s income has increased from Rs 5,797 crore to Rs 6,897 crore in the last one year. At the same time, EBITDA has increased from Rs 3,271 crore to Rs 4,029 crore.
Cargo volume increased by 24 percent
In the information given by the company, it was told that the cargo volume of the company in the financial year 2023-24 was 419.9 million metric tons which was 339.2 million metric tons in the financial year 2022-23. There has been an increase of 24 percent on annual basis.
Company’s debt reduced
According to the information given by the company, the net debt to EBITDA of the company has been 2.3 times in the financial year 2023-24, which was 3.1 times in the last financial year. Commenting on the company’s results, Ashwani Gupta, Whole-time Director and CEO, said that FY 2024 has been a year of many new milestones for APSEZ on both operational and financial metrics. APSEZ outperformed its upward guidance provided at the start of the financial year on cargo, revenue and EBITDA by 6%-8%, while ending the year with a net debt to EBITDA ratio of 2.3x versus its guidance of 2.5x. signed off. Clearly the company’s business model of end-to-end service, strategic partnerships with key customers, leveraging network effects through a range of ports and a focus on operational efficiency is delivering results.
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