Adani Ports FY24 Net Profit Increases by 50%

APSEZ FY24 net profit jumps 50%
Adani Ports and Special Economic Zone Ltd ("APSEZ") achieved remarkable results for quarter and twelve months ending March 31, 2024. Notably, the company recorded a 24% increase in cargo volume, 28% growth in revenue, 44% jump in EBITDA, and a 50% increase in PAT. APSEZ acquired Gopalpur Port and Karaikal Port for future growth.
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Adani Ports and Special Economic Zone Ltd (APSEZ) reported impressive financial results for the quarter and twelve months ending on March 31, 2024. The company saw substantial growth in cargo volume, revenue, EBITDA, and profit after tax. Notably, the volume grew by 24% year-on-year to reach 420 MMT, revenue increased by 28% to Rs 26,711 Cr, and EBITDA jumped by 44% to Rs 15,751 Cr. Additionally, the company acquired Gopalpur Port and Karaikal Port to enhance growth and improve east-west parity.

Operational highlights for APSEZ included handling a significant share of the country’s total cargo and achieving impressive cargo volume growth, including the handling of one of the largest container ships ever. The company also recorded its highest-ever quarterly volumes in Q4 FY24 and saw strong growth in container rail and bulk volumes. Financially, APSEZ reported revenue growth of 28% and a record profit after tax of Rs 8,104 Cr.

Looking ahead, APSEZ remains focused on driving growth, particularly in the logistics segment, and has set ambitious goals for FY2025. The company aims to achieve cargo volumes of 460-480 MMT, revenue of Rs 29,000-31,000 Cr, and EBITDA of Rs 17,000-18,000 Cr during this period. Additionally, APSEZ has been recognized for its environmental, social, and governance (ESG) initiatives, ranking highly in various assessments and setting targets for sustainability, including targeting Net Zero by 2040.

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