The overall expenditures increased from Rs 3,497.49 crore to Rs 3,993.62 crore in the quarter under review. The largest integrated logistics provider in the nation reported a consolidated net profit of Rs. 1,111.63 crore for the same time in the prior year, according to a BSE filing.
Comparing the fourth quarter of the previous fiscal year to the same quarter the previous year, its consolidated total income climbed to Rs 6,179.12 crore from Rs 4,739.08 crore. The overall expenditures increased from Rs 3,497.49 crore to Rs 3,993.62 crore in the quarter under review.
The net profit of APSEZ increased during the last fiscal year from Rs 4,953.18 crore in FY22 to Rs 5,392.75 crore. The year FY23 has been an outstanding one for APSEZ in terms of operational and financial performance, according to Karan Adani, Chief Executive Officer and Whole-Time Director of APSEZ.
“Our strategy of geographical diversification, cargo mix diversification, and business model transformation to a transport utility is supporting robust growth,” he said. “The company has overachieved against its highest-ever revenue and EBITDA guidance issued at the beginning of the year.
In a statement, the company said APSEZ made record investments of around Rs 27,000 crore in FY23, which included six major acquisitions totaling around Rs 18,000 crore and organic capex of around Rs 9,000 crore. “Cash and cash equivalents held with the company, as well as internal accruals, were primarily used to finance these investments.” Thus, the gross debt to fixed asset ratio has rapidly decreased from 80% in FY19 to roughly 60% in FY23,” it continued.
APSEZ will be able to reach its desired cargo volumes of 500 MMT in 2025 thanks to the investments made and the five bid victories during the year, the statement claims. This will also hasten the process of changing the business model to one of a transport utility. At 339 MMT in FY23, APSEZ recorded its highest-ever port cargo volumes, a solid 9% increase year over year.