Adani Ports and Special Economic Zones (APSEZ) reported a strong financial performance for the first quarter of the fiscal year 2024-25 (Q1FY25). The company’s consolidated net profit soared by 47% year-on-year to ₹3,113 crore, up from ₹2,115 crore in the same quarter of the previous year. This impressive growth was bolstered by a one-time gain of ₹600 crore from the sale of a stake in a subsidiary container terminal.
On the revenue front, APSEZ clocked ₹6,956 crore, a growth of 11 per cent over ₹6,247.6 crore in Q1FY24. The revenue growth was driven by strong operational performance at all its ports and logistics operations.
Q1 results push past market expectations. According to a Bloomberg survey of eight brokerages, Adani Ports was estimated to clock revenues at ₹7,007 crore, with its net profit projected to come in at ₹2,292.50 crore. Actual figures considerably beat these estimates, reflective of the growth trajectory and efficiency management strategies it has kept.
In the period under consideration, Adani Ports completed the divestment of 49% equity stake in its subsidiary, Adani Enore Container Terminal Pvt Ltd for ₹248.54 crore. This brought an accretion of ₹603.27 crore to the statement, going the overall profit.
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Source: Moneycontrol
News Desk
