Adani Ports and Special Economic Zone (APSEZ), largest private port operator, has posted a 76.2% rise in net profit at ₹2,014.77 crore, but fell below Street estimates of ₹2,266 crore.
In comparison, the Adani group company had posted a net profit of ₹1,158 crore for the same period a year ago. The firm’s revenues rose 19% to ₹6,897 crore from ₹5,797 crore, while Ebitda rose 23.6% to ₹4,044 crore, and Ebitda margins rose to 58.6% from 56.4%, APSEZ said in a statement.
A consensus estimate of Bloomberg analysts was expecting the firm to post a consolidated net profit of ₹2,266 crore, on revenue of ₹6,884 crore and Ebitda of ₹4,121 crore.
“With incremental cargo volumes of 100 million metric tonne (MMT) achieved in less than two years, APSEZ is well poised to achieve 500 MMT of cargo volumes in 2025, aided by recently acquired Gopalpur Port, and the scheduled commissioning of Vizhinjam Port in the current year and West Container Terminal next year. We continue to invest heavily in the business to drive growth, particularly in the logistics segment,” APSEZ CEO Ashwani Gupta said.
Following the acquisition of Gopalpur and Karaikal ports, APSEZ’s total number oports in India has risen to 15, while its marine services business won contracts in Sri Lanka, Mexico and Oman. Its total number of logistics park is at 12.
With the commissioning of warehouses in Mumbai and Indore, the firm’s total warehousing capacity rose to 2.4 million square feet.
For FY25, the firm has earmarked a capex of ₹10,500-11,500 crore, while it expects cargo volumes for the period to be about 460-480 MMT. APSEZ expects revenue of ₹29,000-31,000 crore for FY25, with an Ebitda of ₹17,000-18,000 crore and net debt to Ebitda of 2.2-2.5 times.