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2 min read | Updated on August 01, 2024, 13:46 IST
SUMMARY
Adani Ports' EBITDA during the June 2024 quarter increased 29% YoY to ₹4,848 crore, as compared to ₹3,755 crore in the year-ago period. The cumulative amount of cargo handled in Q1FY25 jumped 8% YoY to 109 MMT.
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Adani Ports is the biggest private ports operator of India. The company is looking to expand its operations on the global front (Representative image)
The net profit clocked by the Adani Group arm is 47% higher as compared to ₹2,119 crore in the same quarter of the preceding fiscal year.
The revenue from operations clocked by the company increased 11.3% year-on-year (YoY) to ₹6,956.3 crore in the June 2024 quarter, as compared to ₹6,247.5 crore in the year-ago period.
The cumulative amount of cargo handled by APSEZ during Q1FY25 came in at 109 million metric tonnes (MMT), which is 8% higher than 101.4 MMT handled in Q1FY24.
The 47% YoY surge in net profit marks a "stellar" opening quarter for Adani Ports, the company's whole-time director and CEO Ashwani Gupta said.
“FY25 has begun on a strong note for us with stellar performance on both financial and growth fronts. On the financial front, we posted all-time high earnings. But for the temporary disruption in Gangavaram Port, which is now fully restored, our Q1 cargo volume would have been at 114.7 MMT, a 13% increase," he said.
The company's earnings before interest, taxes, depreciation and amortisation (EBITDA) increased 29% YoY to ₹4,848 crore, as compared to ₹3,755 crore in the year-ago period.
Notably, Adani Ports' edged higher during early trade on Thursday, but turned almost flat as the results were about to get released. After the earnings report was out, the shares rose again in the afternoon trading. The scrip was valued ₹1,592.45 apiece on the NSE at 1:39 pm, up 1.44% from the previous day's close.
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