Adani Ports and Special Economic Zone Ltd (APSEZ) announced its fiscal first-quarter earnings on Thursday, reporting a profit of Rs 3,112.83 crore, a 47.2 percent increase from Rs 2,114.72 crore in the same quarter of the previous fiscal year. The company posted revenue from operations of Rs 6,956.32 crore, up 11.3 percent from Rs 6,247.55 crore in the first quarter of the previous fiscal year. APSEZ’s EBITDA stood at Rs 4,847 crore, marking a 29 percent year-on-year growth. 

Ashwani Gupta, Whole-time Director and CEO of APSEZ, commented, “FY25 has begun on a strong note for us with stellar performance on both financial and growth fronts. We posted all-time high earnings. Except for a temporary disruption at Gangavaram Port, which is now fully restored, our Q1 cargo volume would have been 114.7 MMT, a 13% increase. On the growth front, we won two new port concessions and a port O&M contract.” 

The company reported an 8 percent year-on-year increase in cargo volume to 109 MT, driven primarily by containers (up 18 percent YoY) and liquids and gas (up 11 percent YoY). Despite a temporary disruption that led to a loss of 5.7 MMT at Gangavaram Port, operations have been fully restored. Mundra port handled the highest quarterly volume by any Indian port at 51 MMT. Additionally, APSEZ recorded its highest ever quarterly rail cargo (0.16Mn TEUs, up 19 percent YoY) and GPWIS volume (5.56 MMT, up 28 percent YoY). 

During the quarter, the number of rakes increased to 131 from 127 at the end of FY24. Warehousing capacity in Q1FY25 rose to 2.9 million square feet with the addition of a warehouse at Palwal (up from 2.4 million square feet at the end of FY24). Agrisilo capacity was at 1.2 MMT and is expected to increase to 4 MMT upon completion of ongoing projects, the company stated. 

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