Adani Ports handles 25 MMT cargo in Oct22

5 Nov 2022 , 10:53 AM

The companys portfolio of ports handled cargo volume of 24.76 MMT in October 2021. The daily average run-rate of approximately 1 MMT in the second half of October reflects a pick-up in volumes versus the rate of September and the first half of October,? Adani Ports said. During April-October 2022, APSEZ clocked around 203 MMT of cargo volumes, up 10% YoY. During the seven months of FY22, the company had handled cargo volume of 184.67 MMT. In the initial 7 months of FY23, east coast volumes were up 11% YoY, supported by Krishnapatnam (+14%), Gangavaram (+4%) and Kattupalli & Ennore combined (+49%). The west coast volume jump of 9% is supported by Mundra (6%), Dahej (64%), Tuna (10%), and Goa (17%), and Hazira (3%). This volume jump in FY23 is despite the extended monsoon, which adversely impacted the coal demand, higher duties on steel exports, and export ban on certain qualities of rice, the company added. 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 65.5% to Rs 1,737.81 crore on 32.8% jump in revenue from operations to Rs 5,210.80 crore in Q2 FY23 over Q2 FY22. The scrip added 3.45% to end at Rs 861.15 on the BSE yesterday. Powered by Capital Market – Live News