Adani Ports net profit jumps 285% at Rs 1,288 cr for Q4FY21
New Delhi: Adani Ports and Special Economic Zone’s consolidated net profit jumped 285 percent at Rs 1,288 crore for the fourth quarter of the last fiscal as compared to Rs 334 crore in the same quarter of the previous fiscal.
Operating revenue of the company jumped 24 percent at Rs 3,608 crore for the fourth quarter of the last fiscal as compared to Rs 2,921 crore in the same quarter of the previous fiscal.
The board of the company has recommended a dividend of Rs 5 per equity share of Rs 2 each fully paid-up for the last fiscal. "The Company will inform in due course the date on which the Company will hold Annual General Meeting for the year ended 31st March, 2021 and the date from which dividend will be paid or warrants thereof will be dispatched to the shareholders," the company said in a regulatory filing.
The consolidated operating EBITDA of the company jumped 39 percent to Rs 2,287 crore.
The company expects fiscal 2021-2022 consolidated EBIDTA at Rs 1,020 crore to Rs 1,070 crore. It also expects free cash flow to be in range of Rs 5,500 crore to Rs 6,000 crore. It expects its consolidated revenue to be in the range of Rs 1,600-1,680 crore.
Adani Ports may abandon Myanmar project if it is found that the project violates US sanctions. The company said that it is holding discussions currently with US-based "Morrison Foerster" to make sure that there is compliance with OFAC sanctions in relation to Myanmar project.