Adani Ports Q2 profit up 65 pc | Whuff News

New Delhi: Adani Ports and Special Economic Zones Ltd (APSEZ) on Tuesday reported a 65.4 per cent rise in consolidated profit at Rs 1,737.81 crore for the quarter ended September 2022, driven by higher revenue from operations.

The company has posted a consolidated profit of Rs 1,050.20 crore during the past year, APSEZ said in a filing to BSE.

Consolidated revenue from operations in the July-September period rose to Rs 5,210.80 crore from Rs 3,922.85 crore in the year-ago quarter.

“H1 FY23 was a record half-year in the history of APSEZ, with the highest ever cargo volume, revenue and EBITDA. Extending this strong performance through October, APSEZ achieved 200 MMT of cargo shipments in seven months, another new milestone,” APSEZ Chief Executive Officer and Whole Time Director Karan Adani said.

The company further said its logistics business is poised to continue to grow with better asset utilization.

The company is on track to achieve its full-year guidance of 350-360 million metric tonnes (MMT) of cargo volume and EBITDA of Rs 12,200-12,600 crore, Adani added.

APSEZ, part of the globally diversified Adani Group, has evolved from a port company to an integrated transport utility. It is a port developer and operator with six strategically located ports and terminals on the West coast and six ports and terminals on the East coast.

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