APSEZ kicks off FY25 with a strong 47% PAT growth in Q1

AHMEDABAD, India - Aug. 5, 2024 - PRLog -- Adani Ports and Special Economic Zone Ltd

("APSEZ") today announced its results for the quarter ending 30 June, 2024

"FY25 has begun on a strong note for us with stellar performance on both financial and growth fronts. On the financial front, we posted all-time high earnings. But for the temporary disruption in Gangavaram Port, which is now fully restored, our Q1 cargo volume would have been at 114.7 MMT, a 13% increase. On the growth front, we won two new port concessions and a port O&M

contract. We are proud that four of our ports featured in World Bank's Container Port Performance Index 2023" said Mr. Ashwani Gupta, Whole-time Director & CEO, APSEZ

During the quarter, APSEZ clocked 109MMT of cargo volume (up 8%

YoY). The growth was primarily driven by Containers (up 18% YoY) and Liquids & Gas (up 11% YoY). We had a temporary disruption leading to a loss of 5.7 MMT at the Gangavaram Port, which is now fully restored.

Revenue grew by 21% YoY to Rs 7,560 Cr in Q1 FY25.

EBITDA (excluding forex) jumped 29% to Rs. 4,848 Cr. Domestic Ports contributed Rs. 3,990 Cr. to EBITDA and Logistics contribution was at Rs. 144 Cr.

Domestic ports EBITDA expanded by 32 bps to 72% due to better asset sweating.

Net debt to TTM EBITDA at quarter-end stood at 2.1x.

CARE and ICRA upgraded APSEZ's credit rating to 'AAA'. S&P upgraded credit outlook to "Positive" from "Stable", driven by improving scale and diversification. www.adaniports.com