The Consolidated Net Profit Of Adani Ports Increases 68%  

On a year-over-year basis, Adani Ports and Special Economic Zone (Adani Ports) reported impressive quarterly figures. Its quarterly net profit, when combined, increased 68.5 percent year over year to Rs 1,677.48 crore. Due to an increase in cargo volume, overall operating revenue increased 32.8 percent to Rs 5,210.80 crore. In the months of July through September, cargo volume increased by 15% YoY to 86.6 MMT.

“2QFY23 volumes at 86.6mnt fell q-o-q (quarter-on-quarter) vs 1QFY23 volumes at around 91mnt likely on account of lower thermal coal imports”. Nomura had stated in its preview note.

 From Rs 3,530.68 crore in the same quarter the previous year, revenue from the company's port and SEZ operations increased to Rs 4,609.29 crore in the third quarter.

“H1 FY23 is a record half-year in APSEZ’s history, with the highest ever cargo volume, revenue, and EBITDA. Extending this strong performance into October, APSEZ achieved 200 MMT of cargo through-put within seven months, another new milestone,”, according to Mr. Karan Adani, CEO and Whole-Time Director of Adani Ports and Special Economic Zone.

On May 26, 1998, Gujarat Adani Port Ltd (GAPL) was established with the goal of creating a private port at Mundra on India's west coast. The company is now known as Adani Ports and Special Economic Zone Ltd. The Company operates India's largest private port and SEZ. Development, operation, and maintenance of the Mundra Port and port-related infrastructural assets, including the Multi-Product Special Economic Zone supported by the Adani Group, one of India's major commercial conglomerates, are its core business activities. APSEZ runs terminals at Mormugao, Visakhapatnam, and Kandla, as well as ports in Mundra, Dahej, Hazira Dhamra, Ennore, and Kattupalli (Tuna-Tekra).