Adani Ports and Special Economic Zone Ltd (APSEZ) announced financial results for the quarter and half-year ending September 2024, reporting growth in revenue, profits and market share. Ashwani Gupta, CEO of Adani Ports and SEZ, informed shareholders that APSEZ achieved strong performance across its operations, with net profit growth of 42% year-on-year for the first half of the financial year 2024-25.
As a leading transport utility company with a pan-India presence and select operations along the East-West trade corridor, APSEZ recorded a 13% rise in revenue to Rs 14,627 crore for the first half and 6% growth to Rs 7,067 crore for the July-September quarter. Profits after tax reached Rs 5,520 crore for the half-year and Rs 2,413 crore for the quarter, with ports revenue growing by 11% and logistics revenue by 17% year-on-year.
Gupta reaffirmed APSEZ’s cargo volume target of 460-480 million metric tonnes (MMT) for FY25, highlighting that cargo volumes had already reached 220 MMT by the first half of the year, reflecting 9% growth year-on-year. He noted that the company remains on track to meet the upper end of its EBITDA guidance of Rs 18,000 crore.
Expansion efforts continue as APSEZ completed the acquisition of Gopalpur Port and is set to commission Vizhinjam Port in Q3 and Colombo Port in Q4 of FY25. To enhance operational efficiency, the company has expanded its marine fleet by acquiring an 80% stake in Astro Offshore, adding 26 offshore vessels to its existing fleet.
“We increased market share driven by new customer acquisitions, new circuits, a greater proportion of end-to-end solutions and efficiency enhancement by digitization. As we pursue a high growth trajectory, we remain committed to financial discipline,” Gupta said, adding that APSEZ aims to run its ports on renewable energy in the future.
APSEZ operates seven key ports and terminals on India’s west coast and eight on the east coast, representing 27% of the nation’s port volumes. This network includes strategic locations such as Mundra, Dahej, Mormugao, Dighi, Vizhinjam, Haldia and Krishnapatnam, supporting APSEZ’s vision of establishing itself as India’s leading logistics powerhouse with last-mile connectivity solutions across the country.
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