Adani Ports Q1 net profit rises 47% to ₹ 3,107 crore
New Delhi New Delhi: Adani Ports and Special Economic Zone Ltd (APSEZ) on Thursday reported a 47 per cent rise in its consolidated net profit in the June quarter of the current fiscal to Rs 3,107 crore on the back of higher income. It had reported a net profit of Rs 2,119 crore in the April-June period of FY24, the company said in a filing. Total income rose to Rs 8,054.18 crore in the quarter under review from Rs 6,631.23 crore in the year-ago quarter. Expenditures rose to Rs 4,238.94 crore in the period from Rs 4,065.24 crore a year ago. “FY25 has started on a strong note for us on both financial and growth fronts,” said Ashwani Gupta, Whole-time Director and CEO of APSEZ. “On the financial front, we have recorded the highest ever revenue.
But for the temporary disruption at Gangavaram Port, which is now fully restored, our Q1 cargo volume would have been 114.7 MMT, a growth of 13 per cent,” he said. During the quarter, APSEZ recorded 109 MMT (million metric tonnes) cargo volume, registering a growth of 8 per cent year-on-year (YoY), the company said in a statement. “This growth was primarily driven by an 18 per cent YoY growth in containers and 11 per cent YoY growth in liquids and gas,” the company said. “We had a temporary disruption resulting in a loss of 5.7 MMT at Gangavaram Port, which is now fully restored,” the company said. Mundra Port handled the highest ever quarterly volume by any Indian port (51 MMT), according to the company statement. While APSEZ’s revenue grew 21 per cent to ₹ 7,560 crore in Q1 FY25, its EBITDA (excluding foreign exchange) grew 29 per cent to ₹ 4,848 crore. Domestic ports contributed ₹ 3,990 crore to EBITDA (earnings before interest, tax, depreciation and amortisation) and logistics contribution was ₹
144 crore, the statement said. TTM EBITDA stood at 2.1x at the end of the quarter,” it said.
APSEZ said it has signed a 30-year concession agreement with the Tanzania Ports Authority to operate and manage Container Terminal 2 at Dar es Salaam Port, Tanzania. The four-berth CT2 has an annual cargo handling capacity of 1 million TEU and will handle 0.82 million TEU containers in 2023.It said the first mothership arrived at Vizhinjam Port, India’s first transshipment port equipped with South Asia’s most advanced container handling technology.The company also said the addition of a warehouse at Palwal increased its warehousing capacity to 2.9 million square feet (sq ft), up from 2.4 million sq ft by the end of FY24.APSEZ is part of the globally diversified Adani Group, which has a national presence at 15 ports in India’s coastal region and 4 ports outside India.
