Ahmedabad (Gujarat) [India], October 29 : Earnings momentum continues for Adani Ports and SEZ, with the Adani Group company registering Profit After Tax or net profit at Rs 5,520 crore in the first half of 2024-25. The net profits were up 42 per cent year-on-year.
In the July-September quarter of 2024-25, the Adani Group company registered 37 per cent growth in net profits at Rs 2,413 crore.
Adani Ports and Special Economic Zone Limited on Tuesday announced its results for the quarter and half year ending September 2024.
During the first half of 2024-25 and the July-September quarter, the company's revenue rose 13 per cent and 6 per cent, respectively, to Rs 14,627 crore and Rs 7,067 crore, respectively.
Recently, the company completed the acquisition of Gopalpur Port and Astro Offshore, besides signing two new port concession agreements.
The company said it is well-positioned to hit the upper end of 2024-25 EBITDA guidance (Rs 17,000-18,000 crore).
It reiterates 2024-25 cargo volume guidance of 460 MMT- 480 MMT.
"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).
"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," Gupta added.
"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 clocked 220 MMT of cargo volume (up 9 per cent year-on-year) in the first half of 2024-25. The growth was primarily driven by containers.
Among other operational highlights are Mundra Port achieving a significant milestone by crossing 100 MMT mark, Vizhinjam port docking the largest cargo ship ever to arrive in South Asia (MSC Claude Girardet).
APSEZ has seven strategically located ports and terminals on the west coast (Mundra, Tuna Tekra and Berth 13 in Kandla, Dahej, and Hazira in Gujarat, Mormugao in Goa, Dighi in Maharashtra and Vizhinjam in Kerala) and eight ports and terminals on the East coast (Haldia in West Bengal, Dhamra and Gopalpur in Odisha, Gangavaram and Krishnapatnam in Andhra Pradesh, Kattupalli and Ennore in Tamil Nadu and Karaikal in Puducherry), representing 27 per cent of the country's total port volumes.
The company is also developing a transshipment port at Colombo, Sri Lanka and operates the Haifa Port in Israel and Container Terminal 2 at Dar Es Salaam Port, Tanzania.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor