Ahmedabad (Gujarat) [India], January 30 (ANI): Adani Ports and Special Economic Zone Ltd on Thursday reported a 32 per cent growth in its net profit in the first three quarters of 2024-25. The net profit for the period -April to December 2024–was Rs 8038 crore versus Rs 6089 crore in the year-ago period, the company’s earnings data showed Thursday.
In the October-December quarter, the Adani Group’s ports business reported 14 per cent growth in net profit at Rs 2518 crore, as against Rs 2208 crore a year ago quarter.
Adani Ports and Special Economic Zone Limited (APSEZ) today announced its results for the quarter and nine months ending December 2024.
Also, the company closed Gopalpur and Astro Offshore transactions worth over Rs 4,600 crores in the October-December quarter.
In a piece of good news, S&P Global CSA ranked Adani Ports SEZ among the Top 10 most sustainable global companies in the transport and transport infrastructure industry.
Ashwani Gupta, Whole-time Director and CEO, APSEZ, said he was “excited to share the fantastic momentum we have achieved during 9M FY25, driven by exceptional execution across 3 key areas of our business” — market share gains coupled with volume-price mix increase, traction in logistics vertical, and operational efficiencies along with technology-led gains.
“On the logistics front, in line with our commitment earlier in the year, we launched a new trucking platform, which is being integrated across the rest of the logistics value chain and will make us a true integrated Transport Utility. We have also upgraded our FY25 EBITDA forecast to Rs 18,800-18,900 crores,” Gupta added.
“This prestigious recognition (by S&P Global CSA reflects our focus on imbibing sustainability across our operations,” said Ashwani Gupta, Whole-time Director and CEO, APSEZ.
“Our domestic ports saw year-on-year revenue growth of 11 per cent, along with 80 points increase in EBITDA margin. Overall, India cargo market share increased to 27.2 per cent, while container market share went up to 45.2 per cent. Logistics revenue grew by 22 per cent, driven by double digit growth in container and GPWIS volumes,” he said in a video message separately.
“Our international operations revenue increased by 16 per cent driven by Astro and Tanzania operations. We commenced operations at Vizhinjam Port. Vizhinjam both more than 140 vessels during the trial period and has handled 70,000 TEUs in its first month of operations. We also closed the acquisition of Gopalpur Port and Tanzania concession,” he added.
“We added five new vessels to Astro Offshore’s fleet of 26 at the time of acquisition, taking the total to 31 OSVs now. We also placed India’s largest orders for eight harbour tugs with Cochin Shipyard. This order aligns with government’s Make in India and Atmanirbhar Bharat initiatives. We will continue to invest in marine assets in line with our roadmap to become one of the world’s largest operators,” he further said.
APSEZ clocked 332 MMT (+7 per cent YoY) cargo volume in 9M 2024-25 led by growth in containers (+19 per cent YoY), liquids and gas (+8 per cent YoY) and dry and dry bulk cargo (iron ore, limestone, minerals, coking coal), partially offset by the decline in imported non-coking coal.
All-India cargo market share for 9M 2024-25 stood at 27.2 per cent (up from 26.5 per cent in 2023-24). The container market share for 9M 2024-25 stood at 45.2 per cent (up from 44.2 per cent in 2023-24).
Adani Ports and Special Economic Zone Ltd (APSEZ), a part of the globally diversified Adani Group, is the largest port developer and operator in India with 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 transhipment port at Colombo, Sri Lanka and operates the Haifa Port in Israel and Container Terminal 2 at Dar Es Salaam Port, Tanzania. (ANI)
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