Adani Ports Q1 result: Profit rises 10% to ₹3,650 crore; revenue jumps 24% on higher cargo, global operations

Adani Ports and Special Economic Zone Ltd (APSEZ) on Wednesday reported a 10.2% year-on-year rise in consolidated net profit to ₹3,649.5 crore for the quarter ended June 2026, supported by higher income, growth in domestic and international port operations, and strong logistics performance.

The company had posted a consolidated net profit of ₹3,310.6 crore in the corresponding quarter of the previous financial year.

Total income rose 23.9% to ₹11,673.7 crore in the April-June quarter from ₹9,422.2 crore a year earlier, according to a regulatory filing. Total expenses increased to ₹7,078.6 crore from ₹5,731.9 crore in the year-ago period.

APSEZ Whole-time Director and CEO Ashwani Gupta said the company's balanced growth across businesses reinforced its confidence in achieving its "Ambition 2031" strategy. "Supported by our domestic capacity expansion programme targeting 1,000 MMT by 2030, a growing international portfolio and a rapidly scaling logistics ecosystem, APSEZ is steadily building a more diversified, resilient and globally relevant transport platform capable of sustaining long-term value creation," Gupta said.

The company's domestic ports business reported a 12% year-on-year increase in revenue, driven by higher cargo volumes, improved product mix and better realisations. Cargo handled at domestic ports rose to 115.3 million metric tonnes (MMT) during the quarter from 112.9 MMT a year earlier, while EBITDA margin remained robust at 74%.

As of June 30, 2026, APSEZ's domestic port capacity stood at 653 MMT. The company plans to expand this to 1,000 MMT by December 2030 under one of its largest capacity expansion programmes. Its all-India cargo market share stood at 27.6%, while container cargo market share was 44.8%.

International ports delivered record quarterly revenue and EBITDA, with cargo volumes surging to 22.8 MMT from 7.7 MMT in the year-ago quarter. The growth was driven by the addition of NQXT Australia and continued ramp-up at the Colombo port. Australia handled 10 MMT of cargo during the quarter, followed by Colombo at 6.9 MMT, Tanzania at 3.7 MMT, and Israel at 2.2 MMT.

The international ports business also recorded a sharp improvement in EBITDA margin to 41.8% from 21.1% a year earlier, aided by higher-margin Australian operations and improving scale at Colombo. Revenue from Colombo increased five-fold year-on-year, while Tanzania posted 36% revenue growth.

In the logistics business, rail container volumes were impacted by the ongoing Middle East crisis, with rail throughput declining to 145,310 TEUs from 179,479 TEUs in the corresponding quarter last year. However, the company's asset-light logistics operations continued to expand, with trucking revenue rising 26% year-on-year and International Freight Network (IFN) revenue increasing 28% sequentially.

Marine operations recorded 67% revenue growth, supported by fleet expansion to 135 vessels from 118 a year earlier. During the quarter, APSEZ also expanded its global marine footprint through a partnership with Oceaneering International for offshore engineering services in Europe and secured a 10-year contract linked to Argentina's first LNG exports to India.

On the balance sheet front, APSEZ's gross debt stood at ₹56,776 crore as of June 30, 2026 while cash and cash equivalents were ₹12,428 crore. Net debt-to-EBITDA remained at a comfortable 1.9 times.

The company also highlighted improvements in its credit profile. During the quarter, S&P Global Ratings upgraded APSEZ's long-term issuer credit rating to "BBB" from "BBB-" with a stable outlook, bringing it in line with India's sovereign rating. Domestic rating agencies CARE Ratings and ICRA reaffirmed the company's "AAA" ratings while its average debt maturity stood at 5.1 years at the end of June 2026.

At 1.50 pm on Wednesday, shares of the company were trading 3.5% down at ₹1,713.75 apiece, on the BSE.