Adani Ports Q2 results: Net profit jumps 37% to Rs 2,413 crore; key highlights

Adani Ports and Special Economic Zone Ltd (APSEZ) on Tuesday said its net profit grew 37 per cent at Rs 2,413 crore in the September quarter compared with Rs 1,762 crore in the same quarter last year. Revenue for the quarter rose 6 per cent YoY to Rs 7,067 crore from Rs 6,646 crore in the corresponding quarter last year. Cargo volume advanced 10 per cent YoY to 111 mmt, the Adani group firm said in a BSE filing. 

Ebitda for the quarter, excluding the forex impact, came in at Rs 4,369 crore for the quarter against Rs 3,880 crore YoY.  Adani Ports reiterated its FY25 cargo guidance of 460 mm- 480 mmt and said it is well-positioned to hit the upper end of Ebitda guidance. Following the results, the Adani Ports stock entered positive terrain and was trading 0.14 per cent higher at Rs 1,354.15.

“We are pleased to witness continued growth across our operations, with our existing ports delivering strong volume ramp-ups and new capacity additions progressing as planned in Gopalpur, Vizhinjam and Colombo,” said Mr Ashwani Gupta, Whole-time Director & CEO at APSEZ.

“During the quarter, we also diversified our marine fleet, adding 26 offshore support vessels. Our logistics business too achieved robust growth, enhancing last-mile connectivity through expansions in rakes, warehousing, MMLPs and agri-silos. Mundra Port’s remarkable milestone of crossing 100 MMT in 181 days and our cargo volume trajectory reaffirm our confidence in
delivering our FY25 cargo guidance and hitting the upper end of our Ebitda guidance for the year. These results underscore APSEZ’s commitment to sustainable growth and operational excellence.”

Operational highlights

• APSEZ clocked 220 mmt of cargo volume (up 9% YoY) in H1 FY25. The growth was primarily driven by Containers (up 19% YoY).

• Mundra Port crossed the 100 mmt mark in 181 days (101.1 mmt in H1).

• Vizhinjam port docked the largest cargo ship ever to arrive in South Asia (MSC Claude Girardet).

• Handled 0.31 Mn TEUs rail volume (up 11 per cent YoY) and 10.7 mmt GPWIS volume (up 20 per cent YoY).

• Container volume handled at MMLPs increased 21 per cent YoY to 215,958 TEUs

Financial highlights

• Operating revenue grew 13 per cent YoY to Rs 14,627 crore. Ports revenue increased 11 per cent YoY to Rs 12,824 crore, Logistics revenue increased 17 per cent YoY to Rs 1,159 crore.

• Ebitda (excluding forex) increased 21 per cent YoY to Rs 9,217 crore.

• Net debt to TTM EBITDA at 2 times against 2.3 times in FY24

• CRISIL assigned “AAA” rating to APSEZ. India Ratings upgraded APSEZ’s long-term issuer rating to “AAA”.

• APSEZ’s long term debt is now ranked “AAA” by 4 domestic rating agencies, including ICRA and CARE.