Adani Ports & SEZ handles total cargo volume of 31.88 MMT in June'22

Adani Ports and Special Economic Zone said that it handled the highest ever monthly cargo volume of 31.88 MMT in June 2022, implying 12% YoY growth.

The company said that this also marks the highest ever cargo handled in a quarter at 90.89 MMT during Q1 FY23, which is 16% quarter on quarter growth, and 8% year on year growth over a strong Q1 FY22 that saw the post COVID volume surge.

Coal volumes continue to show strong recovery with a growth of 25% YoY. Other key segments that lead this monthly surge are crude, up by 17% YoY and container rising by 6% YoY.

Key ports that helped drive this monthly volume growth are Mundra which saw a growth 21% YoY, Hazira up by 16% YoY, Kattupalli & Ennore combined rose 38% YoY and Dahej jumped 70% YoY.

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 company reported a 21.8% fall in consolidated net profit to Rs 1033.02 crore in Q4 FY22 from Rs 1320.69 crore recorded in Q4 FY21. Net sales rose 6.6% YoY to Rs 3,845.03 crore for the quarter ended 31 March 2022.

The scrip rose 0.29% to currently trade at Rs 680.30 on the BSE.

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