Centrum Broking: Adani Ports’ Strong All Round Q2 Performance; Guidance Upbeat
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Centrum Broking Report
Adani Ports and Special Economic Zone Ltd. reported strong performance in Q2 FY21 on all counts – cargo growth, margins and cash flows.
Profit after tax grew 31.6% YoY to Rs 13.9 billion (estimate Rs 14.7 billion) with growth also aided by forex mark-to-market gain of Rs 4.5 billion (mark-to-market loss of Rs 4.8 billion PY).
Cargo grew 6.8% yoy to 56.2 million tonne with growth aided by crude and non-coal bulk cargo while coal and container cargo grew 4-4.5% YoY.
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