Adani Ports Q2 Results: Profit Rises 65% On Strong Volume Growth
Adani Ports and Special Economic Zone Ltd.'s second-quarter profit rose helped by a strong volume growth.
Net profit of India's largest private port operator rose 65% year-on-year to Rs 1,738 crore in the quarter ended September, according to its exchange filing. That compares with the Rs 1,311-crore consensus estimate of analysts tracked by Bloomberg.
The company's cargo volume rose 15% year-on-year to 86.6 million metric tonnes in the quarter.
The depreciating rupee dragged the profits of the Adani Group flagship company. The foreign exchange loss in the quarter stood at 369.7 crore, as against a gain of Rs 53.21 crore in the comparable period.
Adani Ports Q2 FY23 Highlights (YoY)
Revenue rose 33% to Rs 5,211 crore, against an estimate of Rs 4670.6 crore
Ebitda rose 31% to Rs 3,260 crore, excluding forex MTM loss/gain. It compares with the Rs 2,699.3-crore forecast.
“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,” Karan Adani, chief executive of Adani Ports, said in a press release.
Shares of Adani Ports ended 2% higher before results were announced, as against a 0.7% rise in benchmark Nifty 50.
Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
