Adani Ports and Special Economic Zone Ltd (APSEZ) on October 29 said its net profit for the quarter ended September 30, 2024 rose 40% to Rs 2,445 crore. It reported net profit of Rs 1,748 crore in the year-ago period.
The Adani Group firm's revenue from operations rose 6% to Rs 7,067 crore in Q2FY25 as against Rs 6,646 crore in Q2FY24.
At 1:05 pm on October 29, Adani Ports' shares were trading 0.76% lower at Rs 1,341.9 apiece.
“We are pleased to witness continued growth across our operations, with our existing ports delivering strong volume ramp-ups and new capacity additions progressing as planned in Gopalpur, Vizhinjam and Colombo,” said Ashwani Gupta, Whole-time Director & CEO, APSEZ.
“During the quarter, we also diversified our marine fleet, adding 26 offshore support vessels. Our logistics business too achieved robust growth, enhancing last-mile connectivity through expansions in rakes, warehousing, MMLPs and agri-silos. Mundra Port’s remarkable milestone of crossing 100 MMT in 181 days and our cargo volume trajectory reaffirm our confidence in delivering our FY25 cargo guidance and hitting the upper end of our EBITDA guidance for the year. These results underscore APSEZ’s commitment to sustainable growth and operational excellence.”
The country's largest private port operator by volumes reiterated its fiscal year 2025 cargo volume forecast in the 460 million metric tons (MMT)-480 MMT range, after a 10% rise in volumes during the September quarter, from a 7.5% growth in the previous quarter. In a regulatory filing, it said it is "well-positioned to hit the upper end of FY25 EBITDA guidance (Rs 17,000-18,000 crore)".
Operating revenue grew by 13% YoY to Rs 14,627 crore and ports revenue increased by 11% YoY to Rs 12,824 crore, while logistics revenue increased by 17% YoY to Rs 1,159 crore. EBITDA (excluding forex) increased 21% YoY to Rs 9,217 crore.
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