Adani Ports and Special Economic Zone Limited (APSEZ) on Thursday recorded its third quarter earnings for the financial year 2023-24 with profit at Rs 2,208.41 crore, up 67.9 per cent in comparison to Rs 1,315.54 crore during the corresponding quarter of previous year. It posted revenue from operations at Rs 6,920.10 crore, up 44.6 per cent as against Rs 4,786.17 crore during the third quarter of FY23. The company EBITDA stood at Rs 4,292 crore, up 59 per cent on-year.
“In the year when our first port, Mundra, completed 25 years of operation, APSEZ recorded its strongest ever Q3 and 9M performance with the highest ever revenue, EBITDA, and cargo volumes, and is on course to overachieve its full year guidance provided at the start of the year. This is a testament to our continuous efforts to drive operating efficiencies and remain an industry leading port operator,” said Ashwani Gupta, CEO, APSEZ.
The company recorded volume growth of 44 per cent YoY to 108.6 MMT. Mundra, it said, recorded the highest-ever monthly volume at any Indian port in Oct’23 and AICTPL (CT-3) recorded India’s highest monthly container volume in Nov’23.
While the domestic cargo growth was over 2.5x India’s growth rate, with nine of the domestic ports/terminals recording their highest ever cargo volumes in 9M, quarterly rail volumes grew 17 per cent YoY to 157,904 TEUs and GPWIS volumes jumped 53 per cent YoY to 5.29 MMT, Adani Ports said.
