Updated February 4th, 2024 at 12:44 IST
Adani Ports rises 26% YoY in cargo volumes in January 2024
This growth is primarily guided by annual 46 per cent uptick in Dry Bulk cargo and 13 per cent rise in the container cargo
Ports and logistics: The Billionaire Gautam Adani backed Adani Ports and Special Economic Zone Ltd (APSEZ) recorded a 26 per cent annual rise in handled cargo volumes in January to 35.1 million metric tonnes (MMT).
This growth is primarily guided by annual 46 per cent uptick in Dry Bulk cargo and 13 per cent rise in the container cargo.
The Ahemdabad headquartered firm's Gangavaram Port recorded its lifetime high monthly cargo volume at 4 MMT.
With the total cargo handling between April 2023 - Jan 2024 at 346.3 MMT, APSEZ has already surpassed the total cargo volumes 339 MMT handled in FY23.
The logistics volumes continue to witness a record YoY growth of 20 per cent with the year-to-date (YTD) rail volumes close to 48,900 twenty foot equivalent units (TEUs), and General Purpose Wagon Investment Scheme (GPWIS) volumes 42 per cent higher at 16 MMT.
In January this year, the GPWIS volumes continue to be at a record high of 1.9 MMT.
According to a regulatory filing, the company's revenue from operations in Q4 FY24 increased close to 45 per cent to Rs 6,920 crore, from Rs 4,786 crore in the corresponding period last year.
Overall, the Adani Ports’ volume rose 44 per cent annually to 108.6 million metric tonnes (MMT).
Shares of Adani Ports on Friday closed 30.52 per cent higher at Rs 1,261.90.
Published February 2nd, 2024 at 16:13 IST