Adani Ports and Special Economic Zone Ltd (APSEZ) on Thursday reported a 47 per cent increase in consolidated net profit to Rs 3,107 crore for the June quarter, driven by higher income.
The company had previously reported a net profit of Rs 2,119 crore in the same period of the previous financial year. Total income rose to Rs 8,054.18 crore, up from Rs 6,631.23 crore year-on-year.
Profit before exceptional items and tax zoomed 50.08% year on year (YoY) to Rs 3,738.08 crore in the quarter ended 30 June 2024. The company reported an exceptional loss of Rs 145.43 crore in Q1 FY25.
APSEZ’s financial performance was bolstered by a 21 per cent year-on-year revenue growth to Rs 7,560 crore, and an EBITDA (excluding forex) increase of 29 per cent to Rs 4,848 crore. The company also signed a 30-year concession agreement with the Tanzania Ports Authority to manage Container Terminal 2 at the Dar es Salaam Port and received the first mothership at Vizhinjam Port, India’s first transhipment port.
Ashwani Gupta, whole-time director & CEO of APSEZ, said, FY25 has begun on a strong note for us with stellar performance on both financial and growth fronts. On the financial front, we posted all-time high earnings. But for the temporary disruption in Gangavaram Port, which is now fully restored, our Q1 cargo volume would have been at 114.7 MMT, a 13% increase.
The firm reported its highest-ever quarterly performance, with rail cargo reaching 0.16 million TEUs, representing a 19% YoY growth and GPWIS volume totaling 5.56 million metric tons, reflecting a 28% YoY growth.
Mundra Port recorded highest ever quarterly cargo handled by any port in India with 51.1 MMT in Q1 FY25.
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