Adani Ports Q2 results: Profit up 4.2% at Rs 1,748 crore; sales jump 27.6%; shares fall

Adani Ports & Special Economic Zone Ltd on Thursday said its net profit grew 4.19 per cent year-on-year (YoY) to Rs 1,747.85 crore for the September quarter compared with Rs 1,677.48 crore in the same quarter last year. Revenue for the quarter, the Adani group firm said, rose 27.6 per cent YoY to Rs 6,646.41 crore compared with Rs 5,210.80 crore in the same quarter last year.

For the first half of the financial year, profit was up 33 per cent at Rs 3,881 rcore while sales were up 26 per cent at Rs 12,894 crore. Ebitda for the first half of the ongoing fiscal rose 49 per cent YoY to Rs 7,429 crore.

“Adani Ports achieved another milestone by registering its highest ever half yearly revenue of Rs 12,894 crore, Ebitda of Rs 7,429 crore and cargo volumes of 203 MMT during H1 FY24. The splendid performance was on the back of a 14 per cent YoY increase in cargo volume coupled with improving operational efficiencies at our ports, which has resulted in our domestic ports Ebitda improving by 220 bps YoY to 72 per cent during H1 FY24.” said Karan Adani, CEO and Whole Time Director of Adani Ports.

Adani Ports said it added 11 rakes, Loni ICD, and warehouses at Mumbai and Indore to its portfolio. "The improved utilisation of logistics assets have led to Adani Ports recording its highest ever half-yearly rail and GPWIS volumes, with rail volumes growing at an impressive 25 per cent YoY and GPWIS volumes growing at 42 per cent YoY.” Adani said.

The stock was trading 1.36 per cent lower at Rs 807.40 on BSE.

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