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Adani Ports and SEZ Q3 PAT climbs 14% YoY to Rs 2,520 crore in FY25

30-Jan-25 15:14 Hrs IST

Profit before exceptional items and tax gained 11.17% year on year (YoY) to Rs 3,047.72 crore in the quarter ended 31 December 2024. The company reported an exceptional loss of Rs 27.85 crore in Q3 FY25.

The company's EBITDA (excluding forex) jumped 15% to Rs 4,802 crore in the quarter of FY25, compared to Rs 4,186 crore registered in Q3 FY24.

Domestic ports contributed Rs 5,534 crore to EBITDA, and logistics contribution was at Rs 529 crore. The company said that with 70% domestic port EBITDA margins, APSEZ is one of the most profitable port operators globally.

During the quarter, APSEZ recorded a cargo volume of 113 million metric tons (MMT), registering growth of 4% YoY.

The company informed that it has revised its FY25 EBITDA guidance upwards to Rs 18,800-18,900 crore, from the earlier range of Rs 17,000-18,000 crore.

On a nine-month basis, the company's net profit jumped 32% to Rs 8,038 crore on a 14% rise in revenue from operations to Rs 22,590 crore in 9M FY25 over 9M FY24.

APSEZ clocked 332 MMT (up 7% YoY) cargo volume in 9M FY25. The growth was primarily driven by container volume (up 19% YoY).

Mundra Port has achieved a remarkable milestone by handling 100 MMT of cargo in just 181 days. In November 2024, the port reached another significant milestone by handling 396 vessels and executing 845 vessel movements, making it the highest ever monthly achievement.

Operating revenue grew by 14% YoY to Rs 22,590 crore. Ports revenue jumped 11% YoY to Rs 17,172 crore; logistics revenue increased by 22% to Rs 1,852 crore in 9M FY25.

The company's net debt to trailing twelve months (TTM) EBITDA ratio stands at 2.1x, compared to 2.3x in FY24. Additionally, S&P Global CSA has ranked APSEZ among the Top 10 most sustainable global companies in the transport and transport infrastructure industry.

The company has successfully completed the acquisition of a 95% stake in Gopalpur Port, strengthening its presence along the eastern coast of India. As a deep-draft, multi-cargo port, Gopalpur Port plays a significant role in supporting the growth of mineral-based industries in its hinterland.

Additionally, the company has acquired an 80% stake in Astro Offshore Group, aligning with its strategy to expand its footprint in the global marine services market.

Ashwani Gupta, whole-time director & CEO, APSEZ, I am excited to share the fantastic momentum we have achieved during 9M FY25, driven by exceptional execution across 3 key areas of our business - market share gains coupled with volume-price mix increase, traction in logistics vertical, and operational efficiencies along with technology-led gains.

On the logistics front, in line with our commitment earlier in the year, we launched a new trucking platform, which is being integrated across the rest of the logistics value chain and will make us a true integrated Transport Utility.

We have also upgraded our FY25 EBITDA forecast to Rs 18,800-18,900 crores. Moreover, it is incredibly gratifying to be recognized by S&P Global CSA as one of the Top 10 companies globally in the transport industry. This prestigious recognition reflects our focus on imbibing sustainability across our operations.'

Adani Ports & Special Economic Zone is in the business of development, operations, and maintenance of port infrastructure (port services and related infrastructure development) and has linked multi-product Special Economic Zone (SEZ) and related infrastructure contiguous to port at Mundra.

The scrip rose 1.62% to currently trade at Rs 1,079.45 on the BSE.