Riding on the back of highest-ever quarterly port cargo volumes, in the April-June period, APSEZ reported an 80% jump in its net profit at ₹2,119 crore, compared to ₹1,177 crore in the corresponding period last year.
The Adani group company’s revenue from operations increased 24% year-on-year to ₹6,248 crore from ₹5,058 crore in the year-ago period.
In terms of EBITDA, Adani Ports & SEZ recorded an 80% rise in earnings as compared to EBITDA worth ₹2,089 crore in the year-ago period.
The overall cargo volume during the first quarter of fiscal year 2023-24 grew 12% to 101.4 MMT, supported by container growth of 15%, as compared to 90.9 MMT in the same period last year. APSEZ’s domestic cargo volumes recorded an 8% year-on-year increase, more than the country’s cargo volume growth rate.
Growth in cargo volume was led by containers (+15%), dry cargo (+10%), and liquids excluding crude (+7%). The automobile segment, though a small proportion of overall volumes, saw a 54% jump in volumes.
