Adani Ports and SEZ‘s shares were muted on Tuesday after the company reported its second quarter results.

What Happened: The Adani Group firm’s net profit climbed 40% to ₹2,445 crore in the July to September period versus ₹1,747.85 crore in the same quarter a year ago. In the previous quarter, the company’s profit stood at ₹3,113 crore.

Revenue from operation came in at ₹7,067 crore, representing a jump of 6.3% compared to ₹6,646.41 crore in the corresponding quarter in 2023. In Q1, the firm recorded an operational revenue of ₹6,956 crore. The company’s total income came in at ₹7,372.37 crore.

EBITDA, excluding forex increased 21% YoY to ₹9,217 crore. Adani Ports reiterated its cargo volume guidance of 460 million metric tonnes to 480 million metric tonnes for FY25. The company is also well positioned to hit the upper end of its EBITDA guidance, it said.

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The company saw its cargo volume growing by 10% in Q2 to 111million metric tonnes. In September alone, the company handled 37.5 million metric tonnes of total cargo, showing a 14% yer-on-year improvement. The growth in cargo was primarily driven by containers, which was up 31% YoY, followed by liquids &
gas cargo which rose 11%.

On a half yearly basis, Adani Ports handled 219.8 million metric tonnes of total cargo, rising 8.5% YoY, clocking its highest ever H1 cargo. With Vizhinjam and Gopalpur contributing to cargo volume during the second half of the financial year, the company said it is on track to deliver on its FY25 cargo guidance.

Price Action: Shares of Adani Ports and SEZ were

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