Adani Ports and Special Economic Zone (APSEZ) reported record EBITDA of Rs 4,848 crore for the quarter that concluded on June 30 and the highest-ever net profit of Rs 3,107 crore, up 47% year over year.
The flagship business of the Adani Group had its highest-ever quarterly revenue in the April-June quarter at Rs 7,560 crore, a 21% increase. Volume increased by 8% to 109 MT.
“We’ve had an outstanding start to FY25 with remarkable growth and financial results. Financially speaking, we reported record profits. Our Q1 cargo volume would have been at 114.7 MMT, a 13% increase, if not for the brief disruption in Gangavaram Port, which has since been fully restored, according to Ashwani Gupta, Whole-time Director and CEO, APSEZ.
“We secured a port O&M contract as well as two new port concessions on the growth front. Gupta continued, “We are honored that four of our ports were included in the World Bank’s Container Port Performance Index 2023.
Liquids and gas (increased 11% YoY) and containers (up 18% YoY) were the main drivers of the cargo volume increases.
At the Gangavaram Port, the company experienced a brief disruption that resulted in a loss of 5.7 MMT; however, this has since been entirely restored.
With 51 MMT handled during the quarter, Mundra port handled the most cargo of any Indian port.
Hazira, Krishnapatnam, Mundra, and Kattupalli were included in the World Bank’s 2023 Container Port Performance Index. The index compares ports worldwide based on a number of factors, such as dependability, productivity, and efficiency.
Container Terminal 2 at Tanzania’s Dar es Salaam Port is operated and managed by Adani Ports under a 30-year concession deal negotiated with the Tanzania Ports Authority.
Moreover, the first mothership arrived in India’s first transshipment port, Vizhinjam Port, which is outfitted with the most cutting-edge container handling equipment in South Asia, during the quarter.
Over 2,000 containers were loaded onto the ship “San Fernando,” owned by Maersk, the second-biggest shipping business in the world, when it landed at the Vizhinjam Port last month.
Prime Minister Narendra Modi’s tripartite focus—ports for prosperity, ports for progress, and ports for productivity—is exemplified by Vizhinjam Port.
