Adani Ports Q3 results today. Topline to grow 7-8% YoY, PAT likely to rise in double-digits

Adani Ports and Special Economic Zone (APSEZ) will be among 133 BSE listed companies that will announce their December quarter earnings on Thursday, January 30. India’s largest ports operator is expected to report a 7-8% year-on-year growth in its Q3FY25 revenue while the net profit could go up by up to 13%.

The estimates of InCred Equities and Nuvama Institutional Equities have been taken into account. Here’s what they recommended:

InCred
APSEZ is expected to report a 7% YoY and 4.7% QoQ growth in its revenue from operations to Rs 7,400 crore. The adjusted profit after tax (PAT) could go up by 11.4% over Q3FY24 to Rs 2,711 crore while rising by 9.8% on a sequential basis.


The Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) in Q3FY25 is pegged around Rs 4,564 crore which could go up by 9% on a YoY basis while rising by 4.5% on a QoQ basis. The EBITDA margin is seen at 61.7% which will be 120 bps higher over Q3FY24 and 10 bps lower from Q2FY25.

InCred has an ‘Add’ view on Adani Ports shares.
“We expect EBITDA (excluding SEZ) to rise 9% YoY driven by firm tariff and 3% YoY volume growth,” InCred said in a preview note.

Nuvama
Nuvama has estimated APSEZ’s topline growth at 8% and 5% on a YoY and QoQ basis, respectively at Rs 7,440 crore.

The Gautam Adani promoted company could report its core PAT at Rs 2,597 crore, gaining by 13% on a YoY basis and 8% QoQ basis. The EBITDA is expected to rise 7% YoY to Rs 4,609 crore in Q3FY25 meanwhile growing 9% sequentially.

“APSEZ has reported volume growth of 4% YoY for 3Q24 as strong growth in containers (+19% YoY) is offset by lower bulk cargo, particularly coal ( we estimate 15% YoY decline in coal cargo). This coupled with realisation growth of 5% (flat QoQ), we estimate revenue high single digit and operating margins to remain steady (YoY),” Nuvama said in its preview note.

“We watch out for the impact of USDINR currency fluctuation on BS and income statements,” it said further.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)