Mumbai Adani Ports and Special Economic Zone (APSEZ) has registered 33 per cent year-on-year growth in revenue 5211 crore in Q2FY23 while EBITDA grew by 31% 3260 crores. Pat jumped 65% 1738 crore from the same period of FY 22. Quarterly cargo volume grew 15% year over year to 86.6 million tonnes.
The company said that the records were set in the first half (April-September) of the current financial year.
Karan Adani, CEO and Whole Time Director, Adani Ports and Special Economic Zone said, “H1 FY23 is a record half-year in the history of APSEZ, with the highest ever Cargo Volume, Revenue and EBITDA.” “Building on this strong performance till October, APSEZ achieved 200 MMT cargo through-put within seven months, another new milestone.”
For H1 FY23, this record cargo volume resulted in 24% growth in Port EBITDA, while Logistics business EBITDA jumped 57% year-on-year. The company said after the results that the margin expansion of the logistics segment continued with improved asset utilization and a 470 bps year-on-year jump in the share of GPWIS (General Purpose Wagon Investment Scheme) revenue stream.
After approval from NCLT in October, Gangavaram Port Limited (GPL) is now fully integrated with APSEZ. The acquisition price of GPL is approx. 6,200 crore (517 million shares @ 120/share), APSEZ said in an update on Gangavaram. The acquisition of 58.1% stake from DVS Raju and family through a share swap arrangement resulted in the issuance of approximately 47.7 million APSEZ shares to the erstwhile GPL promoters.
Stock ended up 2.27% 841.75 among the results. The stock has made a 52-week high of Rs. 987.90 and 52 week low of 652.05.
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