 "Adani Ports Q2 result: Net profit rises 40% YoY but misses estimates")
Adani Ports and Special Economic Zone Limited (APSEZ) reported a net profit (attributable to equity holders of the parent) of Rs 2,445 crore for the second quarter of financial year 2025 (Q2FY25), up by 39.90 per cent year-on-year (YoY), even though it missed street estimates.
The profit growth is said to be amid an increase in the cargo volumes handled by the company and “new capacity additions progressing as planned in Gopalpur, Vizhinjam, and Colombo.”
During the quarter, the company handled a total cargo of 111 million metric tonnes (mmt), up 10 per cent YoY. It reported cargo volume growth of 9.7 per cent in July, 5 per cent in August, and 14 per cent in September, despite a weeks-long shutdown at its Gangavaram port in southern India due to a workers’ strike.
The country’s largest private port operator’s revenue from operations for the quarter stood at Rs 7,067.02 crore with an annual increase of 6.33 per cent. The revenue too missed the estimate of Bloomberg Poll estimates of Rs 7,267.24 crore. The poll had estimated a net profit of Rs 2,601.34 crore for the port entity.
Meanwhile, the total expenses declined marginally, by about a per cent to Rs 4,433.96 crore.
Further, the company’s earnings before interest, tax, depreciation, and amortisation (Ebitda) for the quarter stood at Rs 4,369 crore, up 13 per cent YoY.
Also Read
Sequentially, the company’s net profit declined by 21.5 per cent while the revenue showed a marginal rise of 1.6 per cent.
Ashwani Gupta, the whole-time director and chief executive officer of APSEZ, said, “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.”