Adani Ports and Special Economic Zone (APSEZ) clocked 36.1 million metric tons (MMT) of cargo volume in August 2024, registering a growth of 5% YoY, according to India Shipping News.
The cargo volume represents 5% YoY growth, despite operations at Mundra port and Tuna terminal being impacted for 4 days, equivalent to inclement weather in the Kutch region. The cargo volume increase was led by container growth (up 11% YoY).
The company’s Kattupalli Port handled its highest-ever monthly cargo volume of 1.4 MMT in August 2024.
During the first five months of the financial year, APSEZ clocked 182.4 MMT of total cargo (up 7% YoY). The growth in cargo was primarily driven by containers (up 17%) and liquids & gas (up 7%).
The company’s sweating of logistics assets continued, with August 2024 rail volumes growing by 13% year-to-date (YTD) to 0.26 million twenty-foot equivalent units (TEUs) (up 19% YoY) and the General-Purpose Wagon Investment Scheme (GPWIS) growing by 23% YoY to 9.08 MMT.
Adani Ports & Special Economic Zone develops, operates, and maintains port infrastructure (port services and related infrastructure development) and has linked a multi-product Special Economic Zone (SEZ) and related infrastructure contiguous to the port at Mundra.
The company’s consolidated net profit surged 47.2% to Rs 3,112.83 crore on 11.34% in revenue from operations to Rs 6,956.32 crore in Q1 FY25 over Q1 FY24.
Source: Port News
