Adani Ports’ cargo volumes grow 12% in June

AHMEDABAD : Adani Ports and Special Economic Zone has reported a growth in its operational performance for June 2024 and the April-June quarter. The company has attributed this growth to an increase in containers and liquids & gas segments.

The increase in the cargo volume was led by growth in containers (up 33% YoY) and liquids & gas (up 8% YoY). The company’s Kattupalli Port handled its highest ever monthly cargo volume of 1.36 MMT. The quarter ended 30 June 2024, APSEZ clocked 109 MMT of total cargo (up 7.5% YoY). The growth in cargo was primarily driven by containers (up 18%) and liquids & gas (up 11%)

Within the logistics segment, quarterly rail volumes stood at 156,590 twenty-foot equivalent units (TEUs) (up 19% YoY) and General Purpose Wagon Investment Scheme (GPWIS) volumes were at 5.56 MMT (up 28% YoY).

Adani Ports & Special Economic Zone 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.

The companys consolidated net profit surged 76.2% to Rs 2,039.66 in Q4 FY24 as against to Rs 1,157.55 crore posted in the same period a year ago. Revenue from operations jumped 18.97% to Rs 6,896.50 crore in Q4 FY24 as compared to Rs 5,796.85 crore recorded in Q4 FY3.