2024-08-03 06:49:23
New Delhi: The results of Adani Ports, which is considered the milk cow of Adani Group, have come. The consolidated profit of the company in the June quarter increased by 47.2% to Rs 3,113 crore. It was Rs 2,115 crore in the same quarter last year. In the first quarter, the company’s revenue increased by 11.34% to Rs 6,956.32 crore. The company’s EBITDA increased by 13.1% to Rs 4,245 crore in the quarter while the profit increased by 61%. Meanwhile, the company’s stock rose by more than one percent to Rs 1604.15 on the BSE. It is the highest returning stock among Adani Group stocks during the last one year. APSEZ CEO Ashwini Gupta said that FY 2025 has started with a great performance for us on both finance and growth fronts. On the financial front, we have recorded the highest income ever. Had there been no temporary disruption at Gangavaram Port, our cargo volume in the first quarter would have been 114.7 MMT with 13% growth. During the quarter, the company recorded 109 MMT cargo volume which is 8% higher than last year. During this period, Mundra Port handled 51 MMT cargo which is an all-time quarterly record for any Indian port.
This company of Gautam Adani turned profitable from loss, made earning record, share rocketed
what is the target
Adani Ports recorded its highest ever quarterly rail cargo and GPWIS volumes in the June quarter. The company said domestic ports’ EBITDA grew 32 bps to 72% due to better asset sweating, while net debt to TTM EBITDA stood at 2.1 times at the end of the quarter. The company has set a revenue target of Rs 29,000-31,000 crore, EBITDA of Rs 17,000-18,000 crore and 460-480 MMT cargo for FY25. The company expects net debt to EBITDA to grow to 2.2-2.5 times. The company has planned a capital expenditure of Rs 10,500-11,500 crore for this financial year.