Adani Ports Reports 37% Surge in Q2 Profit

30 Oct 2024 , 12:12 PM

Adani Ports and Special Economic Zone (APSEZ) recorded a net profit of ₹2,412.54 Crore for Q2FY25, marking a 37% increase from ₹1,761.63 Crore in Q2FY24. The company’s total income rose to ₹7,372.37 Crore, reflecting a 6% growth compared to ₹6,951.86 Crore in the previous year.

On a quarter-on-quarter basis, net profit decreased by over 22% from ₹3,107.23 Crore in Q1FY25, while total income fell by more than 8% from ₹8,054.18 Crore.

For the first half of FY25, APSEZ achieved a net profit of ₹5,519.77 Crore, up over 42% from ₹3,881.01 Crore in H1FY24. Total income increased by 13.5% to ₹15,426.55 Crore.

CEO Ashwani Gupta emphasized strong volume ramp-ups and new capacity additions at ports like Gopalpur and Vizhinjam. The cargo volume increased by 9% year-on-year to 220 MMT, supporting the company’s ambitious cargo targets for FY25 of 460-480 MMT.

APSEZ diversified its marine fleet by adding 26 offshore support vessels and completed strategic acquisitions, enhancing logistics capabilities through expansions in warehousing and connectivity.

The company remains poised to meet its EBITDA guidance for FY25, projected between ₹17,000 Crore and ₹18,000 Crore, reaffirming its commitment to sustainable growth and operational excellence.