Adani Ports Q2 profit surges 40% to Rs 24.45 billion
PORTS & SHIPPING

Adani Ports Q2 profit surges 40% to Rs 24.45 billion

Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest private port operator, reported a 39.89% jump in consolidated net profit to Rs 24.45 billion for the July-September quarter, compared to Rs 17.48 billion in the same period last year.

Consolidated revenue from operations for Q2 FY25 rose 6.32% to Rs 70.67 billion, up from Rs 66.46 billion a year ago, driven by a 9.9% increase in cargo volumes. APSEZ handled 111 million tonnes (mt) of cargo during the quarter, compared to 101 mt in the corresponding period last year, the company said in a stock exchange filing on Tuesday following a board meeting.

APSEZ remains optimistic about achieving the upper end of its FY25 EBITDA guidance of Rs 170-180 billion, supported by strong half-yearly performance. The company also reaffirmed its FY25 cargo volume target of 460-480 mt.

“We witnessed continued growth across operations, with existing ports showing strong volume ramp-ups, while new capacity additions at Gopalpur, Vizhinjam, and Colombo are progressing as planned,” said Ashwani Gupta, Whole-time Director and CEO of APSEZ.

Gupta highlighted key developments during the quarter, including the diversification of APSEZ’s marine fleet with 26 offshore support vessels and robust growth in its logistics segment, which expanded last-mile connectivity through new rakes, warehouses, multi-modal logistics parks (MMLPs), and agri-silos. He also noted that Mundra Port crossed the 100 mt milestone in just 181 days, reinforcing the company’s confidence in meeting its cargo and EBITDA guidance for FY25.

“These results reflect APSEZ’s commitment to sustainable growth and operational excellence,” Gupta added. (ET)

Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest private port operator, reported a 39.89% jump in consolidated net profit to Rs 24.45 billion for the July-September quarter, compared to Rs 17.48 billion in the same period last year. Consolidated revenue from operations for Q2 FY25 rose 6.32% to Rs 70.67 billion, up from Rs 66.46 billion a year ago, driven by a 9.9% increase in cargo volumes. APSEZ handled 111 million tonnes (mt) of cargo during the quarter, compared to 101 mt in the corresponding period last year, the company said in a stock exchange filing on Tuesday following a board meeting. APSEZ remains optimistic about achieving the upper end of its FY25 EBITDA guidance of Rs 170-180 billion, supported by strong half-yearly performance. The company also reaffirmed its FY25 cargo volume target of 460-480 mt. “We witnessed continued growth across operations, with existing ports showing strong volume ramp-ups, while new capacity additions at Gopalpur, Vizhinjam, and Colombo are progressing as planned,” said Ashwani Gupta, Whole-time Director and CEO of APSEZ. Gupta highlighted key developments during the quarter, including the diversification of APSEZ’s marine fleet with 26 offshore support vessels and robust growth in its logistics segment, which expanded last-mile connectivity through new rakes, warehouses, multi-modal logistics parks (MMLPs), and agri-silos. He also noted that Mundra Port crossed the 100 mt milestone in just 181 days, reinforcing the company’s confidence in meeting its cargo and EBITDA guidance for FY25. “These results reflect APSEZ’s commitment to sustainable growth and operational excellence,” Gupta added. (ET)

Next Story
Infrastructure Energy

REC Transfers HVDC Project to Power Grid

REC Limited has successfully handed over the Special Purpose Vehicle (SPV) for a High-Voltage Direct Current (HVDC) transmission project to Power Grid Corporation of India Limited (PGCIL). This strategic move aligns with the nation's objectives to strengthen its power transmission network. Key Highlights: Project Overview: The HVDC project, under the inter-state transmission system (ISTS) initiative, is a critical component of India's push toward robust and efficient electricity transmission. It aims to handle bulk power transfer across long distances while ensuring minimal losses. Role of RE..

Next Story
Infrastructure Transport

NF Railway Collaborates with IIT Guwahati

The Northeast Frontier (NF) Railway has signed strategic Memorandums of Understanding (MoUs) with IIT Guwahati to foster technological advancements and improve railway operations in the region. This partnership focuses on innovative solutions to enhance safety, efficiency, and sustainability in rail infrastructure. Key Highlights: Purpose of MoUs: The collaboration aims to leverage IIT Guwahati's expertise in technology and research for implementing cutting-edge solutions across railway operations. Key areas of focus include: Automation and digitization in maintenance. Sustainability initiati..

Next Story
Infrastructure Transport

Danapur Division Modernization Plans Revealed

The Railway Board has unveiled ambitious plans for the expansion and modernization of the Danapur Division, a critical hub under the East Central Railway. The initiative focuses on infrastructure development, enhanced passenger amenities, and operational efficiency. Key Highlights: Scope of Modernization: The Railway Board's blueprint emphasizes: Upgrading existing infrastructure to accommodate more passenger and freight traffic. Improving station facilities, such as platforms, waiting areas, and connectivity. Introducing advanced signal systems for safer and smoother operations. Freig..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000