India's Adani Ports and Special Economic Zone issued a higher year-on-year revenue growth forecast for fiscal 2026 on Thursday, citing strong port volumes, after posting a better-than-expected quarterly profit.
The country's top private port operator said it expects revenue to grow in the range of 15.8%-22.2% for the fiscal year that started on April 1. Its revenue grew 16% last fiscal.
For fiscal 2025, the firm's revenue from its ports business, its biggest, climbed 12%, while its logistics business jumped 39%, led by higher container and bulk cargo volumes, the company said.
It added that it expects revenue from its third-biggest marine services division, which surged 82% to 11.44 billion rupees in fiscal 2025, to treble in two years.
Private port operators including Adani Ports and smaller rival JSW Infrastructure have benefited from steady cargo movement across Indian borders, especially during the fourth quarter, which typically sees increased construction activity due to favorable weather.
However, U.S. President Trump's erratic tariff policies have threatened to disrupt trade and pile additional risks on India's slowing economy.
On Wednesday, JSW Infrastructure reported a higher quarterly profit and shrugged off concerns over U.S. tariff-led trade uncertainties.
Adani Ports reported a consolidated net profit of 30.14 billion rupees ($356 million) for the quarter ended March 31, beating analysts' average estimate of 25.71 billion rupees, as per data compiled by LSEG.
Cargo volumes rose 8% to 118 million metric tonnes in the reported quarter, driving overall revenue nearly 24% higher to 84.88 billion rupees.
The company also forecast its earnings before interest, tax, depreciation and amortization (EBITDA) in the range of 210 billion-220 billion rupees for fiscal 2026.
($1 = 84.6740 Indian rupees)
(Reuters)
