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Adani Ports Stock Price: Latest Updates
Strong Performance in Q4 2023
Adani Ports and Special Economic Zone (APSEZ) reported robust financial performance in the fourth quarter of 2023, ending March 31st. The company's consolidated revenue increased by 15% year-over-year to ₹17,240 crores, driven by strong growth in cargo handling.
Cargo Handling Growth
APSEZ handled a total of 309 million metric tons of cargo in Q4 2023, marking an increase of 10% compared to the same period last year. The growth was primarily attributed to increased demand for coal and container handling services.
Financial Highlights
The company's consolidated profit before interest, taxes, depreciation, and amortization (EBITDA) rose by 12% to ₹5,140 crores, showcasing operational efficiency. Net profit for the quarter grew by 10% to ₹2,740 crores.
Outlook for 2024
Looking ahead, APSEZ remains optimistic about its growth prospects in 2024. The company expects to benefit from favorable economic conditions and its ongoing expansion plans. APSEZ aims to enhance its cargo handling capacity and expand its footprint across India.
Conclusion
Adani Ports and Special Economic Zone has demonstrated strong financial performance and continues to be a leading player in the Indian port sector. The company's commitment to operational efficiency, expansion plans, and focus on cargo handling growth position it well for future success.
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