ADANI PORTS & SEZ Announces Quarterly Results (2QFY21); Net Profit Up 31.9%

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ADANI PORTS & SEZ Announces Quarterly Results (2QFY21); Net Profit Up 31.9%
Wed, 25 Nov

ADANI PORTS & SEZ has announced its results for the quarter ended September 2020. Here is a detailed performance review of the same:

ADANI PORTS & SEZ Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-19*
3
Jun-20*
3
Sep-20*
QoQ ChangeYoY Change
Net SalesRs m28,21222,92729,02526.6%2.9%
Other incomeRs m5,0574,5685,20614.0%2.9%
TurnoverRs m33,26927,49534,23224.5%2.9%
ExpensesRs m15,1018,9776,039-32.7%-60.0%
Gross profitRs m13,11113,95022,98664.8%75.3%
DepreciationRs m4,1044,5474,6181.6%12.5%
InterestRs m5,2014,5285,57023.0%7.1%
Profit before taxRs m8,8639,44218,00490.7%103.1%
TaxRs m-1,7291,8514,038118.2%
Profit after taxRs m10,5927,59113,96684.0%31.9%
Gross profit margin%46.560.879.2
Effective tax rate%-19.519.622.4
Net profit margin%31.827.640.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 2.9% on a year-on-year (YoY) basis. The expenses were down by 60.0% YoY during the same period.
  • The company's operating profit increased by 75.3% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 79.2% in 2QFY21 as against 46.5% in 2QFY20.
  • Depreciation charges increased by 12.5% and finance costs increased by 7.1% YoY, respectively.
  • Other income increased by 2.9% YoY during the quarter.
  • Net profit for the quarter increased by 31.9% YoY. Net profit margins during the quarter increased from 31.8% in 2QFY20 to 40.8% in 2QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 26.6% on a quarter-on-quarter (QoQ) basis. The expenses were down by 32.7% QoQ during the same period.
  • The company's operating profit increased by 64.8% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 79.2% in 2QFY21 as against 60.8% in 1QFY20.
  • Net profit for the quarter increased by 84.0% QoQ, while net profit margins increased from 27.6% in 1QFY20 to 40.8% in 2QFY21.

To see how ADANI PORTS & SEZ has performed over the last eight quarters,please visit here.

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ADANI PORTS & SEZ Share Price Performance

Over the last one year, ADANI PORTS & SEZ share price has moved up from Rs 374.7 to Rs 390.6, registering a Gain of Rs 16.0 or around 4.3%.

Overall, the S&P BSE SENSEX is up 8.4% over the year.

Current Valuations

At the current price of Rs 390.6, the price to earnings (P/E) ratio of ADANI PORTS & SEZ stands at 21.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.8 times.

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