Adani Ports and Special Economic Zone reported a 39 per cent increase in net profit in Q2 of FY25 at ₹2,445 crore and revenue from operations was 6.3 per cent higher at ₹7,067 crore.
During the quarter, the port operator handled 10 per cent more cargo on year at 111 million tonnes. It completed the acquisition of Gopalpur Port and Astro Offshore while it also signed two 30-year port concessions – to operate and manage container terminal 2 at Tanzania’s Dar es Salaam Port and with Deendayal Port Authority to develop Berth No. 13.
Adani Ports said in a statement it was well positioned to hit the upper end of the FY25 EBITDA guidance range of ₹17,000-18,000 crore. It iterated its stated cargo volume goal of 460-480 million tonnes by the end of the year.
Its EBITDA came in at ₹4,369 crore, 13 per cent higher from a year earlier.
“We are pleased to witness continued growth across our operations, with our existing ports delivering strong volume ramp-ups and new capacity additions progressing as planned in Gopalpur, Vizhinjam and Colombo,” said Ashwani Gupta, Whole-time Director & CEO.
He added that the port sector was showing good momentum and “we are positioned for a strong FY25.”
Both Vizhinjam and Colombo ports would be commissioned later this year, he said.
Domestic cargo volume rose 7 per cent to 105.4 million tons in Q2, while international cargo volumes rose 75 per cent. Container volumes rose 18 per cent to 3.1 million TEUs.
Its flagship Mundra Port handled 50 million tons of cargo in the quarter up 12 per cent on year. The port’s reported a revenue of ₹1803 crore in the quarter and EBITDA of Rs 1266 crore with an EBITDA margin of 70 per cent.
The company’s ports on the east coast handled 63.2 million tons of cargo and grew 9 per cent, compared to the ports on the east coast that grew at a lower 5 per cent.
Revenue from its logistics operations rose nearly 22 per cent to ₹588 crore and Gupta said the company would be investing more on its logistics segment for last mile connectivity.
