Shares of Adani Ports and Special Economic Zone were trading in the red on Wednesday after the ports and logistics firm posted its Q4 results.

What Happened? Adani Ports’ quarterly consolidated revenue went to ₹5,797 crore, up 40% from the previous year. However, its net profit grew only 3% to ₹1,141 crore for the quarter – lower than street estimates of ₹1,842 crore.

In its regulatory filing, Adani Ports said that on a consolidated basis, the company's net profit margins for the quarter went down to 20% from 27% a year ago. For the fiscal year, the margins fell to 26% from 29%.

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For the next financial year, the company expects a revenue of ₹24,000 crore-25,000 crore, which would be 20% higher than that of FY23. the firm’s EBITDA is estimated to come in at ₹14,500 crore-₹15,000 crore, while the total capex during the year is expected to be ₹4,000 crore-₹4,500 crore.

The Adani Group firm also declared a dividend of ₹5 per share.

Price Action: In the early hours of trading, Adani Ports’ share price was 0.5% at 730.45, recovering some losses from earlier in the session.

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