Adani Ports and SEZ Soars with 42% Profit Growth

Adani Ports and Special Economic Zone Limited reported a remarkable 42% profit growth in the first half of 2024-25. Proactive expansion and innovative solutions fueled revenue and cargo volume increases. Strategic acquisitions and renewable energy initiatives position the company as a leading pan-India transport utility.

Adani Ports and Special Economic Zone Limited (APSEZ) achieved significant growth across financial metrics, according to CEO Ashwani Gupta, who addressed shareholders on Tuesday. The transport utility company announced its results for the quarter and half-year ending September 2024, showcasing a substantial increase in both net and operational revenues.

With its extensive presence across India's east-west trade corridor, APSEZ reported a 42% rise in net profits for the first half of the financial year 2024-25, spurred by an 11% boost in ports revenue and a 17% enhancement in logistics revenue. Gupta emphasized the company's adherence to its cargo volume goals of 460 to 480 million metric tons for the year and noted advancements towards their EBITDA target.

In terms of strategic expansion, APSEZ has closed its acquisition of Gopalpur port and is on schedule to launch the Vizhinjam port in the upcoming quarter, with the Colombo port following in quarter four. Additionally, APSEZ enhanced its marine fleet with the acquisition of a majority stake in Astro Offshore, highlighting its mission to improve logistic connectivity across India while pursuing renewable energy solutions.

(With inputs from agencies.)