APSEZ Q2 Profit Rises 65%

Adani Ports and Special Economic Zone 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 had posted a consolidated profit of Rs 1,050.20 crore in the year-ago period, APSEZ said in a filing to BSE.
     
The consolidated revenue from operations in the July-September period increased  to Rs 5,210.80 crore from Rs 3,922.85 crore in the year-ago 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," APSEZ CEO and Whole Time Director Karan Adani said.
     
The company further said its logistics business is set to continue growing with  improved utilisation of assets.
     
The company is on track to achieve its full year guidance of 350-360 million metric tonnes (MMT) cargo volumes and EBITDA of Rs 12,200-12,600 crore, Adani added.
     
APSEZ, part of the globally diversified Adani Group, has grown 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.