Adani Ports and Special Economic Zones (APSEZ) has reported a significant increase in its profit for the first quarter (Q1) of the current financial year. The company’s profit has increased by 47% to Rs 3,107 crore, compared to the same period last year.
The company’s revenue has also seen a significant growth of 26% year-on-year (YoY) to Rs 4,515 crore, driven by an increase in cargo volumes and a steady freight rate. The company’s EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) has increased by 34% YoY to Rs 2,484 crore.
The company’s ports business has seen a strong performance, with cargo volumes increasing by 15% YoY to 43.5 million tonnes. The company’s handling of liquid cargo has also seen a significant growth, with volumes increasing by 23% YoY to 5.2 million tonnes.
APSEZ has attributed its strong performance to various initiatives taken by the company, including the expansion of its existing ports, new port development projects, and increased focus on cargo diversification. The company has also been able to maintain its focus on cost optimisation, which has helped to improve its margin.
The company’s CEO, T Natai, said that the company is committed to sustaining its strong performance and is focused on executing its growth strategy. He added that the company is also committed to ensuring sustainable growth and has made significant investments in renewable energy and employee development.
The company’s financial performance has been boosted by the efficient handling of cargo, improved operational efficiency, and increased utilization of capacity. The company is also exploring opportunities to expand its business through greenfield and brownfield projects, and is engaged in discussions with various stakeholders to identify new opportunities.
APSEZ has reported a strong performance for Q1, and the company’s management is confident that it can sustain its growth momentum in the coming quarters. The company’s financial performance has been driven by a combination of its business performance, cost control, and strategic initiatives, and the company is well-positioned to benefit from the growing demand for seaborne trade.
Overall, the company’s Q1 results demonstrate its strong track record of financial performance and its ability to deliver growth. The company’s focus on cost reduction, cargo diversification, and sustainability has enabled it to maintain its market leadership position in the ports sector.