Adani Ports and Special Economic Zone (APSEZ) on Tuesday announced its results for the second quarter ended on September 30. The consolidated net profit of the company stood at Rs 1,762 crore in the quarter ended September 30, 2023, the company said in a regulatory filing.
Total income in the July-September 2024-25 period increased to Rs 7,372.37 crore, from Rs 6,951.86 crore in the year-ago quarter. Total expenses in the period under review reduced marginally to Rs 4,433.96 crore, from Rs 4,477 crore in the year-ago quarter. APSEZ has also completed the acquisition of Gopalpur Port and Astro Offshore, signed 2 new port concession agreements.
|
Particulars (Rs Cr) |
Q2 FY25 |
Q2 FY24 |
YoY |
H1 FY25 |
H1 FY24 |
YoY |
|
Cargo (MMT) |
111 |
101 |
10% |
220 |
203 |
9% |
|
Revenue |
7,067 |
6,646 |
6% |
14,627 |
12,894 |
13% |
|
EBITDA1 |
4,369 |
3,880 |
13% |
9,217 |
7,634 |
21% |
|
PAT2 |
2,413 |
1,762 |
37% |
5,520 |
3,881 |
42% |
1. EBITDA excludes impact of forex on relevant balance sheet items as 30th Sep’24 and 30th Sep ’23 2. During H1 FY24, APSEZ elected to switch to the new tax regime (u/s 115 BAA of the Income Tax Act) for one of its subsidiaries, AKPL. Consequently, the past years’ MAT was written-off, which reduced the PAT by Rs. 455 Cr.
"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 and CEO, Adani Ports and Special Economic Zone Limited (APSEZ).
Gupta said, "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."
APSEZ is a part of the globally diversified Adani Group. It is the largest port developer and operator in India with 7 strategically located ports and terminals on the West coast and 8 ports and terminals on the East coast.