Adani Ports and SEZ logs 15% yoy growth in Q2 FY23 volumes; Stock jumps 2%

4 Oct 2022 , 09:18 AM

Adani Ports and Special Economic Zone Limited (“APSEZ”) has announced the operational performance for September 2022 and Q2FY23.

September 2022 — Q2 FY23 volumes witnessed strong 15% yoy increase, the company said.

• In September 2022, APSEZ recorded 13% yoy growth in cargo volumes to reach 26.1 MMT. This volume jump is despite an extended monsoon which adversely impacted the coal demand/imports and the ban/higher duties on rice exports imposed at the beginning of the month.
• In the initial six months of FY23, the Company managed 177.5 MMT of cargo, which is a good 11% increase over the corresponding period last year. The average monthly cargo run rate is well aligned within our annual guided range of 350 -360 MMT.
• During 1HFY23, east coast volumes are up 13% YoY, supported by Krishnapatnam (+13%), Gangavaram (+9%) and Kattupalli & Ennore combined (+51%). The west coast volume jump of 10% is supported by Mundra (8%), Dahej (65%), Tuna (19%), and Goa (22%).

At around 9:18 AM, Adani Ports & Special Economic Zone Ltd is currently trading at Rs803.85 per share up by Rs18.4 or 2.34% from its previous closing of Rs785.45 per share on the BSE.

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