Adani Ports Q1FY2025 net profit up 47% on higher volumes
Revenue increased 21% to Rs 7,560 crore and cargo handled was up 8% at 109 million tonnes
Adani Ports and Special Economic Zone (APSEZ) reported a 47 percent increase in net profit at Rs 3,107 crore for the first quarter of financial year 2024-25 compared to Rs 2,119 crore in the same period last year on higher volumes.
Revenue increased 21 percent to Rs 7,560 crore and cargo handled was up eight percent at 109 million tonnes, says an official release.
The volume growth was primarily driven by containers (up 18 percent YoY) and liquids & gas (up 11 percent YoY), the release added.
“FY25 has begun on a strong note for us with stellar performance on both financial and growth fronts," says Ashwani Gupta, Whole-time Director & CEO, APSEZ. "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 percent increase.
"On the growth front, we won two new port concessions and a port O&M contract. We are proud that four of our ports (Mundra, Kattupalli, Hazira and Krishnapatnam) featured in the World Bank’s Container Port Performance Index 2023."
Other highlights:
*Arrival of first mothership at the Vizhinjam transshipment port, equipped with South Asia’s most advanced container handling technology.
*Mundra port handled the highest quarterly volume by any Indian port (51 million tonnes).
*Warehousing capacity increased to 2.9 million sq. ft. with the addition of a warehouse at Palwal (2.4 million sq. ft as of FY24 end).
