Adani Ports and Special Economic Zones (APSEZ) saw a 47% rise in net profit for the June quarter, thanks to income from selling a stake in a subsidiary.
Key Points:
- Net profit for the June quarter was ₹3,113 crore, up from ₹2,115 crore last year.
- The profit boost included a ₹603.27 crore gain from selling a 49% stake in Adani Ennore Container Terminal.
- Quarterly revenue increased by 11% to ₹6,956 crore.
Company Performance:
- CEO Ashwani Gupta stated that FY25 started strong with great financial and growth performance.
- APSEZ handled 109 million metric tonnes (MMT) of cargo, a 7.6% increase from last year, but the same as the previous quarter.
- There was a 5.7 MMT cargo loss due to disruption at Gangavaram Port.
Expansion Efforts:
- Signed a 30-year deal to operate Container Terminal 2 at Dar es Salaam Port in Tanzania.
- Received a letter of intent for developing, operating, and maintaining berth No. 13 at Deendayal Port.
- Also received a five-year contract to operate and maintain the container facility at Netaji Subhas Dock in Kolkata.
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