Adani Ports will develop port in Philippines: Company’s MD Karan Adani met the President there, heavy ships will also be able to operate

Adani Group company Adani Ports and Special Economic Zone Limited (APSEZ) is now preparing to invest in the Philippines. A release issued by the Office of the President of the Philippines said that Adani Ports has shown interest in developing a 25 meter deep port in Bataan, Philippines. Going further, President Marco has welcomed the plan of Adani Ports and Special Economic Zone in the Philippines. He has said that ports should be developed to handle agricultural products, so that the Philippines can compete at the global level. Recently, Karan Adani, son of Gautam Adani and Managing Director (MD) of Adani Ports and Special Economic Zone Limited (APSEZ), met with Philippine President Ferdinand Marcos Jr. Panamax vessels can also be operated. Panamax vessels can also be handled or operated from the port being developed by Adani Ports. Generally this type of ship has a deadweight of 50,000 to 80,000 tons. It is capable of carrying huge quantities of goods. Very few ports in the world have the facilities to handle such heavy ships. The company released the results of the fourth quarter. Adani Ports, a company of Adani Group, had released the results of Q4FY24 i.e. the fourth quarter of the financial year 2024 on May 2. In the January-March quarter, the company’s consolidated net profit increased by 76.87% on an annual basis (YoY) to ₹ 2,014.77 crore. The company’s consolidated net profit in the same quarter last year was ₹ 1,139.07 crore. Whereas in the last quarter (Q3FY24) it was ₹2,208.21 crore. That means the company’s consolidated net profit has declined by 8.76% on quarterly basis (QoQ). 50% increase in profits in the entire financial year. An increase of 50.32% has been recorded in the consolidated profits of the company in the entire financial year. The consolidated profit of the company in FY24 was Rs 8,103.99 crore. In the last financial year i.e. FY23, the profit of Adani Ports was Rs 5,390.85 crore. Adani Ports is the country’s largest port operator. Adani Ports is India’s largest private port operator and end-to-end logistics provider. Its 13 ports and terminals represent about 24% of the country’s port capacity. Its capacity is 580 MMTPA. Earlier its name was Gujarat Adani Port Limited (GAPL). The company has set a target of keeping the cargo volume between 460 to 480 metric tons in the financial year 2025. This is 23% more than the last financial year. The company had set a target of 390 metric tons for the financial year 2024. The company’s Mundra Port transported 180 million metric tonnes (MMT) of cargo in the last financial year. The company has also increased its target to 180 MMT for the current financial year.

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top