Adani Ports Q4 net profit rises 76% to Rs 2,040 cr, declares Rs 6 dividend

Adani Ports achieved its highest ever quarterly volumes at 109 million metric tonnes (MMT) in the January-March period. In FY24, APSEZ's domestic cargo volumes grew by 21% YoY versus 7.5% growth in India’s cargo volumes in FY24.

APSEZ handled 420 MMT cargo in FY24, surpassing its guidance of 370 MMT-390 MMT.

“FY24 has been a year of many new milestones for APSEZ on both operational and financial metrics. APSEZ outperformed its upper end of guidance provided at the beginning of the financial year on cargo, revenue, and EBITDA by 6%-8%, while closing the year with net debt to EBITDA ratio of 2.3x vs its guidance of 2.5x. Clearly, the company’s business model of end-to-end service, strategic partnership with key customers, leveraging the network effect through its string of ports, and focus on operational efficiencies is yielding results," said Ashwani Gupta, Whole-Time Director & CEO, APSEZ.

"With incremental cargo volumes of 100 MMT achieved in less than two years, APSEZ is well poised to achieve 500 MMT of cargo volumes in 2025, aided by recently acquired Gopalpur Port, and the scheduled commissioning of Vizhinjam Port in the current year and WCT next year. We continue to invest heavily in the business to drive growth, particularly in the logistics segment. Our newly launched trucking segment enables APSEZ to provide the last-mile connectivity solution to its customers. Our efforts towards sustainable business growth are well recognized in the top decile ESG rating from four global rating agencies,” added Gupta.

APSEZ operates 13 ports and terminals in India, including the country's largest container handling port in Mundra in Gujarat.