APSEZ cargo volumes hit 300 MMT before March 2022

Adani Ports & Special Economic Zone (APSEZ), an integrated transport utility and a part of the Adani Group, crossed the mark of handling 300 million metric tones (MMT) cargo volumes before March 2022.

APSEZ has registered robust growth since it started operations just over two decades ago and continues to outperform all India cargo volume growth, with its market share rising rapidly.

The company took 14 years to achieve 100 MMT annually (with five ports in its portfolio) while the cargo volumes doubled to 200 MMT annually (with nine ports in its portfolio) in the next five years.

With 12 ports in its portfolio currently, APSEZ's achieved handling 300 MMT annually in about three years. The company expects to achieve 500 MMT by 2025, the company's press release highlighted.

Adani Ports and Special Economic Zone reported 6% decline in consolidated net profit to Rs 1,479 crore on a 1% rise in revenue to Rs 3,797 crore in Q3 FY22 over Q3 FY21.

APSEZ, a part of the globally diversified Adani Group has evolved from a port company to an integrated transport utility. It is the largest port developer and operator in India with 6 strategically located ports and terminals on the west coast and 6 ports and terminals on the East coast of India.

Shares of Adani Ports & Special Economic Zone (APSEZ) gained 0.07% to Rs 740.15 on BSE.

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