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Adani Ports and Special Economic Zone Ltd Q3 FY24 PAT jumps 65% Y-o-Y


Ahmedabad, Feb 1: Adani Ports and Special Economic Zone Ltd (“APSEZ”) today announced its results for the quarter and nine months ending 31 December, 2023. 

Particulars (Rs Cr) Q3




Y-o-Y Change 9M FY24 9M


Y-o-Y Change
Cargo (MMT) 108.6 75.4 44% 311.2 252.9 23%
Revenue 6,920 4,786 45% 19,814 15,055 32%
EBITDA# 4,293 2,697 59% 11,722 7,676 53%
PAT 2,208 1,337 65% 6,089** 4,252 43%

# EBITDA includes the impact of forex MTM gain or loss. In Q3 FY24, forex gain is Rs 107 Cr and in Q3 FY23, forex loss is Rs 315 Cr. In 9M FY24, forex loss is Rs 98 Cr and in 9M FY23, forex loss is Rs 1,886 Cr. ** Based on estimated future profits, APSEZ has elected to switch to the new tax regime (u/s 115 BAA of the IT Act) for one of its subsidiaries, AKPL, in Q2 FY24. Consequently, the past years MAT was written-off, which has reduced the PAT by Rs 455 Cr. 

“In the year when our first port, Mundra, completed 25 years of operation, APSEZ recorded its strongest ever Q3 and 9M performance with the highest ever revenue, EBITDA, and cargo volumes, and is on course to overachieve its full year guidance provided at the start of the year. This is a testament to our continuous efforts to drive operating efficiencies and remain an industry leading port operator,” said Ashwani Gupta, CEO, APSEZ.

Operational Highlights

Financial Highlights:

Business Highlights:

ESG Targets and Performance

Indicator FY25 Target 9M


  Energy & Emission
RE share in total electricity ~100% 14%
  Energy intensity reduction 50% 50%
  Emission intensity reduction 60% 51%
Mangrove afforestation (Hectares) 5,000 4,217
  Terrestrial plantation (Hectares) 1,200 1,183
  Water and Waste
  Water consumption intensity reduction 60% 59%
Zero waste to landfill (number of ports) 12 6
  Safety (Fatalities) 0 4

 Awards and Accolades

 APSEZ won the ‘Non-Major Port of the Year’ award at the “Maritime and Logistics Awards 2023” held in Mumbai.

Mundra Port was chosen as the ‘Port of the Year – Containerised Cargo’ at the “EXIM Star Awards”.



















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