Adani Ports & Special Economic Zone (APSEZ) has released its financial results for the quarter and nine months ending December 31, 2023. The report showcases substantial growth in key metrics, reflecting the company’s robust operational performance and strategic initiatives.
Financial Highlights
Consolidated net profit for Q3FY24 stands at ₹2,208 crore, marking a significant 65% increase compared to last year.
Sequentially, the net profit surged by 25.35%, highlighting a steady growth trajectory.
For the nine months ending December 31, 2023 (9MFY24), the consolidated net profit rose by an impressive 43% to ₹4,252 crore.
Consolidated revenue from operations witnessed a substantial increase, reaching ₹6,920.10 crore in Q3FY24, up from ₹4,786.17 crore in the year-ago quarter, reflecting a YoY increase of 44.58%.
The EBITDA saw a notable improvement, increasing by 59% YoY to ₹4,293 crore in Q3FY24. Similarly, the 9MFY24 EBITDA jumped to ₹11,722 crore, a 53% increase from last year.
Operational Achievements
APSEZ achieved its highest-ever quarterly cargo volume of 108.6 MMT during the quarter.
Mundra, the flagship port, set a record for the highest-ever monthly volume at any Indian port in October 2023.
AICTPL (CT-3) recorded India’s highest monthly container volume in November 2023, showcasing APSEZ’s operational excellence.
Domestic cargo growth exceeded India’s growth rate, with nine domestic ports and terminals achieving their highest-ever cargo volumes in 9MFY24.
Quarterly rail volumes grew by 17% YoY to 157,904 TEUs, while GPWIS volumes surged by 53% YoY to 5.29 MMT.
APSEZ recorded its highest-ever rail (+22%) and GPWIS (+46%) volumes in 9MFY24, reflecting sustained operational efficiency and performance.
Word from the Board
Mr. Ashwani Gupta, CEO of APSEZ, expressed his satisfaction with the company’s performance, especially during a significant milestone year for Mundra Port. He attributed the remarkable Q3 and 9M performance to continuous efforts driving operating efficiencies, positioning APSEZ as an industry-leading port operator.
Summary
The financial and operational achievements underscore APSEZ’s resilience and capability to navigate challenges while delivering exceptional results. With a focus on driving efficiencies and leveraging its strategic assets, APSEZ remains well-positioned to achieve its full-year guidance and sustain its growth trajectory in the dynamic maritime industry.
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