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Follow on Google News | APSEZ kicks off FY25 with a strong 47% PAT growth in Q1By: adaniports ("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 End
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