Gautam Adani-led Adani Ports, on Thursday, announced a 47.2% year-on-year (YoY) increase in consolidated net profit for the June quarter, reaching ₹3,113 crore compared to ₹2,115 crore in the same quarter last fiscal year. Meanwhile, the company’s revenue grew 11.34 per cent YoY to ₹6,956.32 crore in Q1.
Meanwhile, quarterly EBITDA increased by 13.1 per cent to ₹4,245 crore, with margins rising to 61 per cent from 60.1 per cent in Q1 of FY24.
“FY25 has begun on a strong note for us with 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. On the growth front, we won two new port concessions and a port O&M contract. We are proud that four of our ports featured in World Bank’s Container Port Performance Index 2023,” said Mr. Ashwani Gupta, Whole-time Director & CEO, APSEZ.
During the quarter, APSEZ handled 109 MMT of cargo volume, marking an 8 per cent year-over-year increase. This growth was mainly fueled by a rise in container volumes (up 18% YoY) and liquids and gas (up 11 per cent YoY). There was a temporary disruption at Gangavaram Port, resulting in a loss of 5.7 MMT, but operations have now been fully restored.
Adani Ports reported that its domestic ports EBITDA increased by 32 basis points to 72 per cent due to improved asset utilization, with net debt to TTM EBITDA at 2.1x by the end of the quarter.
For FY25, the company forecasts revenue of ₹29,000-31,000 crore, EBITDA of ₹17,000-18,000 crore, and cargo volumes of 460-480 MMT. It anticipates net debt to EBITDA rising to 2.2–2.5x and has planned a capital expenditure of ₹10,500-11,500 crore for the fiscal year.