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Hot Pursuit - Detailed News

Adani Ports and SEZ gallops after November cargo volume climbs 42% YoY
04-Dec-23   11:02 Hrs IST

APSEZ said that the growth was witnessed across all three broad cargo categories-dry bulk (over 60% YoY), containers (over 26%) and liquids and gas (over 23%).

In the initial eight months of FY 24 (April-November 2023), the company handled around 275 MMT of cargo, a healthy 21% YoY growth. This marks over 70% of the top end of its full year guidance range of 370-390 MMT, it added.

Adani International Container Terminal (AICTPL), the joint venture terminal at the APSEZ in Mundra, handled over 3,00,000 containers in the month of November.

AICTPL created a national record by handling 3,00,431 twenty-foot equivalent units (TEUs) across 97 vessels in November 2023, breaking its own record of 2,98,634 TEUs in March 2021, by handling approximately 10,000 TEUs every day.

Two other ports of APSEZ, Dhamra and Ennore, also recorded their highest ever monthly volumes, handling 3.96 MMT and 65,658 TEUs respectively.

Logistics volumes continue to witness record growth with year to date rail volumes of around 379,000 TEUs (over 23% YoY) and GPWIS (general purpose wagon investment scheme) volumes of 12.3 MMT (over 44% YoY). The highest-ever monthly GPWIS volumes were recorded in November 2023 at 1.72 MMT.

APSEZ is in the business of development, operations and maintenance of port infrastructure (port services and related infrastructure development) and has linked multi product Special Economic Zone (SEZ) and related infrastructure contiguous to port at Mundra.

APSEZ net profit rose marginally to Rs 1,761.63 crore in Q2 FY24 as against Rs 1,737.81 crore recorded in Q2 FY23. Revenue from operations jumped 27.55% year on year to Rs 6,646.41 crore in the quarter ended 30 September 2023.

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