Adani Ports Q2 Results: Net profit rises 4% YoY to Rs 1,748 crore; revenue jumps 28%
economictimes.indiatimes.com
Revenue from operations during the second quarter increased 28% year-on-year (YoY) to Rs 6,646 crore. It was Rs 5,211 crore in the in the last year quarter.
EBITDA for the quarter (excluding the forex loss) jumped 19% YoY to Rs 3,880 crore in the July-September period.
The domestic cargo volumes of the company jumped 13% YoY to 98.12 mmt, while the total cargo volumes rose 17% YoY to 101.22 mmt in the reporting quarter.
Mundra Port handled cargo volumes to the tune of 44.44 mmt in the September quarter, up 14% YoY.
The growth at Mundra was driven primarily by container cargo followed by crude gas and coal.
In the first half, Adani Ports clocked its highest-ever half-yearly revenue of Rs 12,894 crore, registering a growth of 26% YoY.
EBITDA for the April-September period was up 49% YoY to Rs 7,429 crore.
Adani Ports also recorded its highest-ever six-month cargo volumes at 202.6 mmt in the first half of the current fiscal, reflecting a 14% YoY jump. This growth is led by containers, which rose 18%, dry cargo, up 10%, and liquids, which grew 21%.
Mundra Port handled 3.57 mn TEUs in the same period, which is 15% higher than its closest competitor.
«With a record YTD performance, APSEZ is comfortably placed to achieve its full-year revenue and EBITDA guidance.
Our actions to drive medium-to-long-term growth are progressing as per the plan,» said Karan Adani, CEO and Whole Time Director, Adani Ports.
The company's under-construction port in Sri Lanka has now received a funding commitment of $553 million from the US International Development Finance Corporation (DFC).
Adani Ports said the expansion of logistics business has also gathered momentum as the company added 11 rakes, Loni ICD, and warehouses at Mumbai and
