Ahmedabad (Gujarat) [India], October 29 : Adani Ports and SEZ CEO Ashwani Gupta on Tuesday informed shareholders that it has delivered growth across the top line, bottom line and market share as they continued to strengthen value proposition as a transport utility company.
Adani Ports and Special Economic Zone Limited on Tuesday announced its results for the quarter and half year ending September 2024.
"As an operator with a pan-India footprint and select international presence along the East-West trade corridor, we work with a vast number of stakeholders," said Gupta while releasing the earnings data.
During the first half of 2024-25, the Adani Group company's net profits grew by 42 per cent, driven by 11 per cent year-on-year growth in ports revenue and 17 per cent year-on-year growth in logistics revenue.
APSEZ reiterates 2024-25 cargo volume guidance of 460 MMT- 480 MMT.
"We reiterate our FY25 cargo guidance of 460 to 480 million metric tons and are well placed to hit the upper end of our FY25 EBITDA guidance of Rs 18,000 crores," Gupta said in the video message.
APSEZ's cargo volumes grew at 9 per cent year-on-year to 220 million metric tons during the first half of 2024-25.
"Our planned new capacities are on track. We just closed the acquisition of the Gopalpur port and are on track to commission Vizhinjam port in quarter three. Our Colombo port is also on track to be commissioned in quarter four. As we plan new capacities, we continue to focus on improving throughput and efficiency across existing ports and are confident of hitting our cargo guidance," Gupta said.
"We also strengthened our marine fleet by acquiring 80 per cent stake in Astro Offshore, adding 26 offshore vessels to our existing fleet of 142 tugs and dredgers."
Gupta further said the Adani Group company is focused on expanding logistics footprint at a pan-India level to ensure last-mile connectivity.
"We increased market share driven by new customer acquisitions, new circuits, greater proportion of end-to-end solutions, and efficiency enhancement by digitization. As we pursue a high growth trajectory, we remain committed to financial discipline."
He added APSEZ is pursuing multiple initiatives, including running its ports on renewable energy in the near future.
Earnings momentum continues for Adani Ports and SEZ, with the Adani Group company registering Profit After Tax or net profit at Rs 5,520 crore in the first half of 2024-25. The net profits were up 42 per cent year-on-year.
In the July-September quarter of 2024-25, the Adani Group company registered 37 per cent growth in net profits at Rs 2,413 crore.
During the first half of 2024-25 and the July-September quarter, the company's revenue rose 13 per cent and 6 per cent, respectively, to Rs 14,627 crore and Rs 7,067 crore, respectively.
APSEZ has seven strategically located ports and terminals on the west coast (Mundra, Tuna Tekra and Berth 13 in Kandla, Dahej, and Hazira in Gujarat, Mormugao in Goa, Dighi in Maharashtra and Vizhinjam in Kerala) and eight ports and terminals on the East coast (Haldia in West Bengal, Dhamra and Gopalpur in Odisha, Gangavaram and Krishnapatnam in Andhra Pradesh, Kattupalli and Ennore in Tamil Nadu and Karaikal in Puducherry), representing 27 per cent of the country's total port volumes.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor