APSEZ October 2021 cargo volumes rises 7% M-o-M to 24.76 MMT

Adani Ports & Special Economic Zone (APSEZ) announced its monthly business updates before market hours on Wednesday, 3 November 2021.

Adani Ports & Special Economic Zone (APSEZ)'s portfolio of ports handled cargo volume of 24.76 MMT (million metric tonnes) including 2.11 MMT for Gangavaram Port, showing signs of recovery from September 2021, by recording a growth of 7% M-o-M (month-on-month). During the month, Hazira Port in Gujarat handled record liquid cargo volume of 0.49 MMT which is the highest in this port's history.

Coal volumes recovered in the month of October 2021 and grew 21% M-o-M to 7.67 MMT. During the first seven months of FY22, APSEZ handled cargo volume of 184.67 MMT (including 18.01 MMT for Gangavaram Port), registering a growth of 50% on a Y-o-Y (year-on-year) basis. Three new bulk rakes were added (under GPWIS) during the month of October 2021, taking the total number of bulk rakes to 21.

Its Bulk rail movement (GPWIS) was seen gathering momentum and growing fast on handling cargo volume of 0.73 MMT, its highest ever monthly cargo for the business.

Adani Ports and Special Economic Zone (APSEZ)'s consolidated net profit fell 30.5% to Rs 968.34 crore on 21.70% increase in net sales to Rs 3,532.42 crore in Q2 September 2021 over Q2 September 2020.

Shares of Adani Ports & Special Economic Zone (APSEZ) lost 0.30% to close at Rs 702.40 on BSE. APSEZ, a part of the globally diversified Adani Group, has evolved from a port company to a ports & logistics platform.

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