Adani Ports and Special Economic Zone Ltd records highest-ever half-yearly revenue of Rs 12,894 crore
Nov 13, 2023
Ahemdabad (Gujarat) [India], November 13 : Adani Ports and Special Economic Zone Ltd (APSEZ) has registered its highest ever half-yearly revenue of Rs 12,894 crore and EBITDA of Rs 7,429 crore in the second-quarter, according to a press release by Adani Ports and Logistics.
The APSEZ announced its results for the second quarter and six months ending September 30, 2023, on Monday.
"APSEZ achieved another milestone by registering its highest ever half yearly revenue of Rs 12,894 Crore, EBITDA of Rs 7,429 crore and cargo volumes of 203 MMT during H1 FY24," said Karan Adani, the CEO and Whole Time Director of Adani Ports and Special Economic Zone.
He added, "The splendid performance was on the back of a 14 per cent year-on-year increase in cargo volume coupled with improving operational efficiencies at our ports, which has resulted in our domestic ports EBITDA improving by 220bps YoY to 72 per cent during H1 FY24 (first half of financial year 2023-24)."
Karan Adani said that the APSEZ reported a 48 per cent jump in cargo volumes to reach its life-time high monthly volumes of 37 MMT
"Our flagship port, Mundra, completed 25 years of successful operations, and recorded another milestone by becoming the first port in the country to handle cargo volumes over 16 MMT in a month," he said.
He further said that APSEZ is comfortably placed to achieve its full year revenue and EBITDA guidance and its actions to drive medium-to-long-term growth are progressing as per the plan.
"Our under-construction port in Sri Lanka has now received a funding commitment of USD 553Mn from the US International Development Finance Corporation (DFC). The expansion of our logistics business has also gathered momentum. During H1 FY24, APSEZ has added 11 rakes, Loni ICD, and warehouses at Mumbai and Indore to its portfolio," the APSEZ CEO said.
He added, "The improved utilizations of logistics assets have led to APSEZ recording its highest ever half-yearly rail and GPWIS volumes, with rail volumes growing at an impressive 25% YoY and GPWIS volumes growing at 42 per cent YoY".
