Adani Ports and Special Economic Zone (APSEZ) has announced its results for the second quarter ended Tuesday, September 30. The company said in a regulatory filing that its consolidated net profit stood at Rs 1,762 crore for the quarter ended September 30, 2023. Total revenue rose to Rs 7,372.37 crore in the July-September 2024 period. 25 from Rs 6,951.86 crore in the year-ago quarter. Total expenses decreased marginally to Rs 4,433.96 crore in the period under review from Rs 4,477 crore in the year-ago quarter. APSEZ also completed the acquisition of Gopalpur Port and Astro Offshore and signed 2 new port concession agreements.
EBITDA does not include the impact of the exchange rate on relevant balance sheet items as of September 30, 2024 and September 30, 2023. 2. During the first half of FY24, APSEZ decided to adopt the new tax regime (as per Section 115 BAA of the Income Tax Act) for one of its subsidiaries, AKPL. As a result, MAT of previous years was cancelled, leading to a reduction in PAT of Rs 455 crore.
Ashwini Gupta, Whole Director and CEO, Adani Ports and Special Economic Zone Limited (APSEZ), said, “We are seeing continued growth in our operations, with strong volume growth at our existing ports and at Gopalpur, Vizhinjam ports. and “New capacity is being added as planned in Colombo.” Gupta said: “During the quarter, we also diversified our marine fleet, adding 26 offshore support vessels. Our logistics business also achieved strong growth, improving last mile connectivity through expansion in rakes, warehousing, MMLP and agricultural silos. Mundra Port’s notable milestone of crossing 100 MMT in 181 days and our cargo volume trajectory reaffirm our confidence in meeting our FY25 cargo guidance and touching the top end of our EBITDA guidance for the year. “These results underscore APSEZ’s commitment to sustainable growth and operational excellence.”
APSEZ is part of the globally diversified Adani group. It is India’s largest port developer and operator, with 7 ports and terminals strategically located on the west coast and 8 ports and terminals on the east coast.
