Adani Ports Q2 Results: Net profit rises 4.2% to ₹1,748 crore, revenue up 27% YoY

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Adani Ports Q2 Results: Adani Ports and Special Economic Zone (APSEZ) Ltd announced its July-September quarter results for fiscal 2023-24 (Q2FY24) on Wednesday, November 9, reporting a rise of 4.2 per cent in net profit at ₹1,747.8 crore, compared to ₹1,677.5 crore in the corresponding period last year. The port major's revenue from operations in the second quarter of current fiscal stood at ₹6,646.6 crore, registering a growth of 27.6 per cent, compared to ₹5,210.8 crore in the year-ago period. On the operating front, Bata India's earnings before interest, taxes, depreciation, and amortization (EBITDA) during the September quarter came in ₹4,053.9 crore, marking a growth of 35 per cent, compared to ₹3,005.5 crore in the same period last year.

EBITDA margins in the quarter-under-review stood at 61 per cent, compared to 57.7 per cent in the corresponding period last year. On a year-to-date (YTD) basis (April – October 2023), APSEZ has handled 240 million metric tonnes (MMT) of total cargo, which is a good 18 per cent year-on-year (YoY) growth. The total income in July-September 2023-24 increased to ₹6,951.86 crore from ₹5,648.91 crore in the year-ago quarter.

Total expenses also increased to ₹4,477 crore from ₹3,751.54 crore in the year-ago quarter. Also Read: Adani Ports share price rises almost 3% on US DFC investment boost The company recoded its highest ever six-month cargo volumes at 202.6 MMT in 1H FY24, reflecting a 14 per cent YoY jump. The growth was led by containers (+18 per cent), dry cargo (+10 per cent) and liquids (21 per cent).