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Adani Ports handles 35.8 MMT of cargo volumes in May'24


Adani Ports and Special Economic Zone said that it has handled approximately 35.8 million metric tonnes (MMT) of cargo volumes in May 2024, which is almost flat on a year-over-year (YoY) basis.

The companys handled cargo volumes in the same period last year were 36 MMT.

APSEZ said: Due to shutdown of the Gangavaram Port, APSEZ lost around 6 MMT of cargo volumes in April & May24. However, with the operations now restarted, we are confident of recovering these lost volumes in the coming months.

The companys Mundra recorded a key milestone of handling 17.6 MMT of cargo in May24, which is the highest ever monthly volume at any of the Indian ports. The port also achieved another milestone of handling over 7 lakh twenty-foot equivalent units (TEUs) in a month.

Despite the closure of Gangavaram port, during the initial two months of FY25, APSEZ has handled 72 MMT of cargo, implying 5% YoY growth. This increase is primarily driven by containers (up 11% YoY) and liquids & gas (up 13% 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.

All the Adani Group stocks witnessed strong buying demand in trade today.

Adani Power (up 13.26%), Adani Ports and Special Economic Zone (up 9.09%), Adani Total Gas (up 8.88%), Adani Energy Solutions (up 8.31%), Adani Green Energy (up 7.56%), Adani Enterprises (up 7.54%) and Adani Wilmar (up 3.96%) edged higher.

Source: Business Standard 

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