2 weeks Ago
Adani Ports and Special Economic Zone posted strong earnings for the quarter ended September 2024 (Q2FY25). Its net profit jumped 37 percent to ₹ 2,412.54 crore in the quarter under review as against ₹ 1,761.
63 crore in the year-ago period. Meanwhile, its total income rose to ₹ 7,372.37 crore, up 6 percent from ₹ 6,951.
86 crore in Q2FY24. However, on a sequential basis, the Adani Group stock's net profit fell over 22 percent from ₹ 3,107.23 in the June quarter whereas its total income also declined over 8 percent from ₹ 8,054.
18 crore in Q1FY25. In the first half of financial year 2024-25 (H1FY25), the company posted a net profit of ₹ 5,519.77 crore, climbing over 42 percent from ₹ 3,881.
01 in the same period last year. Similarly, its total income also increased 13.5 percent to ₹ 15,426.
55 crore in H1FY25 versus ₹ 13,583.09 crore in H1FY24. “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 Mr Ashwani Gupta, Whole-time Director & CEO, Adani Ports and Special Economic Zone Limited (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,” he added. The company's Cargo volume saw a 9 percent year-on-year increase, reaching 220 MMT. It also also completed strategic acquisitions, including Gopalpur Port and Astro Offshore, alongside securing two new port concession agreements.
Positioned strongly to meet the upper range of its FY25 EBITDA guidance between ₹ 17,000 to 18,000 crore, Adani Ports reaffirmed its cargo volume target for FY25, projected between 460 MMT and 480 MMT..
