Adani Ports' total cargo volume rises nearly 10% in July'24

Adani Ports and Special Economic Zone said that the company's total cargo volume for the month of July 2024 was 37.3 MMT, which is higher by 9.7% as compared with the same period last year.

The company stated that the growth in cargo was primarily driven by containers, which was up 18% YoY.

During the first four months of the financial year, APSEZ clocked 146.3 MMT of total cargo (up 8% YoY). The growth in cargo was primarily driven by Containers (up 18%) and Liquids & Gas (up 9%). Dhamra Port handled its highest ever monthly volume of 4.6 MMT.

Logistics assets witnessed strong growth with YTD Jul24 rail volumes growing by 17% YoY to 0.21 million TEUs and GPWIS volumes growing by 28% YoY to 7.42 MMT.

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 47.2% to Rs 3,112.83 crore on 11.34% in revenue from operations to Rs 6,956.32 crore in Q1 FY25 over Q1 FY24.

The scrip fell 3.65% to currently trade at Rs 1529.95 on the BSE.

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