Ahmedabad, Oct 29 (SocialNews.XYZ) Adani Ports and Special Economic Zone Ltd (APSEZ) on Tuesday reported 42 per cent surge in net profit at Rs 5,520 crore in the first half this fiscal (H1 FY25), compared to Rs 3,881 crore in the same period last fiscal (H1 FY24).
On a quarterly basis, the flagship company of the diversified Adani Group saw its net profit rise 37 per cent to Rs 2,413 crore in Q2 FY25, from Rs 1,762 crore in the year-ago period.
The operating revenue grew by 13 per cent YoY to Rs 14,627 crore in H1 FY25, as ports revenue alone increased by 11 per cent to Rs 12,824 crore.
Cargo volume grew 9 per cent (on-year) to 220 million metric tonnes (MMT) in the first half of this fiscal, primarily driven by containers (up 19 per cent YoY).
"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, APSEZ.
During the quarter, the company also diversified its marine fleet, adding 26 offshore support vessels. The 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," explained Gupta.
EBITDA (excluding forex) increased 21 per cent YoY to Rs 9,217 crore in the April-September period.
Vizhinjam port docked the largest cargo ship ever to arrive in South Asia (MSC Claude Girardet). The port is expected to start commercial operations by December.
In this period, the company completed the acquisition of Gopalpur Port and completed the acquisition of an 80 per cent stake in global offshore support vessel operator Astro Offshore, adding a fleet of 26 offshore support vessels.
Source: IANS
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