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.
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.
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