Adani Ports' net profits in 2022-23 up 9 pc to Rs 5,393 crore
May 30, 2023
Ahmedabad (Gujarat) [India], May 30 : Adani Ports and Special Economic Zone on Tuesday announced its results for the fourth quarter and the entire financial year 2022-23. Its net profits (Profit After Tax) increased three per cent in the January-March 2023 quarter to Rs 1,141 crore and 9 per cent for the entire year 2022-23 to Rs 5,393 crore.
The Adani company's revenue increased 40 per cent in the January-March quarter to Rs 5,797 crore, and 22 per cent in the entire year 2022-23 to Rs 20,852 crore.
The company's strategy of geographical diversification, among others, enabled robust growth, Karan Adani, CEO and Whole Time Director of Adani Ports and Special Economic Zone, said.
Adani Ports made record investments of around Rs 27,000 crore in 2022-23, which included six major acquisitions totalling around Rs 18,000 crore and organic capex of around Rs 9,000 crore, it said on Tuesday.
For 2023-24, total capital expenditure during the year is expected to be Rs 4,000-4,500 crore.
In 2022-23, it recommended a dividend of Rs 5 per share with a payout of around Rs 1,080 crore. A dividend is a reward that companies often provide to their shareholders, though not mandatory, from a portion of their earnings.
In 2022-23, Adani Ports handled 339.2 million tonnes of cargo, which is 9 per cent higher on a yearly basis.
Cargo volumes are expected to be at 370-390 MMT in 2023-24, resulting in a revenue of Rs 24,000-25,000 crore.
