Business

APSEZ Reports Record Profits & Expands Global Footprint

Adani Ports and Special Economic Zone (APSEZ) has announced unprecedented financial results for the quarter ending 30 June 2024, marking a significant milestone in its operational history.

The company achieved its highest-ever net profit of Rs 3,107 crore, reflecting a robust 47% increase year-on-year. Alongside this, APSEZ reported a record EBITDA of Rs 4,848 crore, underscoring its strong financial performance.

For the April-June quarter, APSEZ saw its highest-ever quarterly revenue reach Rs 7,560 crore, driven by a 21% increase in revenue.

The company’s cargo volume grew by 8% to 109 million tonnes (MT), demonstrating continued expansion and efficiency.

APSEZ CEO Ashwani Gupta Highlights Record Earnings & Strong Start to FY25

Ashwani Gupta, Whole-time Director & CEO, APSEZ expressed enthusiasm about the company’s performance. He stated, “FY25 has begun on a strong note for us with a stellar performance on both financial and growth fronts. 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% increase.”

In addition to impressive financial results, APSEZ made significant strides in its growth strategy.

The company secured two new port concessions and a port operations and management contract.

Furthermore, four of its ports, Mundra, Kattupalli, Hazira, and Krishnapatnam were recognized in the World Bank’s Container Port Performance Index 2023 for their exceptional productivity, efficiency, and reliability.

The quarter also highlighted APSEZ’s operational resilience and expansion.

The Gangavaram Port, which experienced a temporary disruption, is now back in full operation.

Mundra Port, a key asset in APSEZ’s portfolio, achieved the highest quarterly volume handled by any Indian port, reaching 51 MMT.

In a move that underscores its global ambitions, APSEZ signed a 30-year concession agreement with the Tanzania Ports Authority for the operation and management of Container Terminal 2 at the Dar es Salaam Port in Tanzania.

Additionally, the Vizhinjam Port, India’s first trans-shipment port equipped with advanced container handling technology, welcomed its first mothership, ‘San Fernando,’ from Maersk, the world’s second-largest shipping company.

This milestone reflects the port’s strategic alignment with Prime Minister Narendra Modi’s vision for enhancing port infrastructure in India.

As APSEZ continues to achieve record-breaking performance and expand its global presence, the company’s strategic investments and operational excellence position it as a leading player in the global port and logistics industry.

Also Read: Ambuja Cements Reports Robust Quarterly Results With Increased Capacity & Strategic Acquisitions

Mankrit Kaur

Recent Posts

Rouse Avenue Court To Rule On AAP Money Laundering Chargesheet On November 6

The ED submitted the first supplementary chargesheet of 110 pages on October 29. It alleges…

7 hours ago

Allahabad HC Rejects Exemption Request From Additional Chief Secretary Due To Chief Minister’s Program

The court stated that proceedings should not delay because of any constitutional officer's schedule. However,…

8 hours ago

Court Directs ED To Provide Charge Sheet Copies To Accused In Delhi Liquor Policy Case

During the proceedings, the ED requested more time to share copies of digital records, remaining…

8 hours ago

Mahakumbh 2025: Google Maps To Guide Devotees For The First Time

Google has modified its policy to include Mahakumbh, recognizing the event's significance and massive turnout.…

8 hours ago

Yogi Government Eases FDI Policy To Boost Foreign Investment In Uttar Pradesh

During a cabinet meeting on Monday at Lok Bhavan, the state approved changes to the…

9 hours ago

Tribute Meeting To Honor Martyrs Of 1966 Cow Protection Movement

Yuva Chetna will organize a tribute meeting to honor martyrs of the 1966 cow protection…

9 hours ago