Despite slower-than-expected growth in cargo volumes, Adani Ports and Special Economic Zone Limited (APSEZ) reported a 14% increase in its consolidated net profit for the third quarter (Q3) of the fiscal year 2024–25 (FY25) on Friday, at Rs 2,520.26 crore. Moreover, the company's net profit for the same period last year was Rs 2,208.41 crore.

The net profit of the Adani Group's ports division increased marginally from Rs 2,445 crore to 3%. The company's ability to handle cargo grew by only 4% during the quarter, which is a critical metric for port operators. 

Despite the sluggish growth, the quarter's total revenue from operations ended on December 31 at Rs 7,963.55 crore. From Rs 6,920.10 crore, this was a 15% year-over-year (Y-o-Y) increase. Revenue grew sequentially from Rs 7,067.02 crore by 12.7%.

Revenue from ports rose by 11%. Revenue from logistics increased significantly by 22% year over year to Rs 1,852 crore, while revenue from other sources increased by 22% to Rs 17,172 crore. With an improved EBITDA margin of 62%, the company's earnings before interest, taxes, depreciation, and amortization (Ebitda) (excluding forex) increased by 19% to Rs 14,019 crore. Significantly,  it stated in an exchange filing that the FY25 EBITDA guidance has been revised to Rs 18,800-18,900 crore in light of these impressive results.

In terms of expenses, overall spending increased by 13% to Rs 5,190.53 crore from Rs 4,588.10 crore during the same period last year. The robust revenue growth, one of the factors that reduced overall profitability was the cost increase, albeit not a significant one.