APSEZ announces Q3 FY21 Results

Ahmedabad: Adani Ports and Special Economic Zone Limited (“APSEZ”), the largest transport utility in India, a part of globally diversified Adani Group today announced its operational and financial performance for the third quarter and nine months ended 31st December 2020.

The country’s largest integrated logistics player had clocked a consolidated profit of Rs 1,356.43 crore in the corresponding period a year earlier, the company said in a regulatory filing to the BSE.

Its total consolidated income increased to Rs 4,274.79 crore in the third quarter from Rs 3,830.43 crore in the year-ago period. The company’s total expenses during the quarter under review increased to Rs 2,258.62 crore, compared to Rs 2,091.40 crore in the year-ago period.

In Q3 FY21, Krishnapatnam Port handled a cargo volume of 10 MMT. Revenue and EBIDTA in Q3 FY21 was Rs.473 cr. and Rs.336 cr. with an EBIDTA margin of 71%.

Mr. Karan Adani, Chief Executive Officer and Whole Time Director of APSEZ said, “The strong and lasting recovery at APSEZ has been the cornerstone of our journey in the recent past. It’s a proven certitude that our business now operates closer to a pure-play utility. Our portfolio of assets, increasing market share in India, and pre-eminence of our network with leadership positions have an unparalleled value proposition.

APSEZ is well on course to achieve 500 MMT of cargo throughput by FY25. APSEZ will be investing in the logistics and warehousing business with increased investment in Tracks, Rakes as well as land for developing multimodal logistics parks and warehousing facilities.