Adani Ports information 14% expansion in shipment volumes in Sep 2024, says on course to ship FY25 shipment steerage – Business Information

Adani Ports and Special Economic Zone (APSEZ) on Thursday announced that it handled 37.5 MMT of total cargo during September 2024, which is 14 per cent higher than the same period of previous year. The growth in cargo was primarily driven by containers, which was up 31 per cent YoY, followed by liquids & gas cargo which went up by 11 per cent, the company announced in a regulatory filing.  

During the first half of FY25, APSEZ handled 219.8 MMT of total cargo, up 8.5 per cent YoY, clocking its highest ever H1 cargo. This growth was aided by containers, which went up by 19 per cent YoY, followed by liquids & gas cargo that recorded a growth of 8 per cent. 

“With Vizhinjam and Gopalpur contributing to cargo volume during the second half of the financial year, we are on track to deliver on our FY25 cargo guidance, despite disruption in Gangavaram port during the first quarter,” APSEZ said in the filing.

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Furthermore, the company’s Mundra Port achieved a significant milestone by crossing the 100 MMT mark in 181 days. It recorded 101.1 MMT during H1.

APSEZ also said that the sweating of logistics assets continued with H1FY25 rail volumes growing by 11 per cent YoY to 0.31 million TEUs and GPWIS volumes growing by 20 per cent YoY to 10.7 MMT.

Earlier in August, APSEZ had released its fiscal first quarter earnings with profit at Rs 3,112.83 crore, posting a growth of 47.2 per cent on-year. This was in comparison to Rs 2,114.72 crore recorded during the corresponding quarter of FY24. It had reported revenue from operations at Rs 6,956.32 crore, up 11.3 per cent as against Rs 6,247.55 crore during the first quarter of previous fiscal year. During the quarter, the company had posted a cargo volume growth of 8 per cent YoY to 109 MT, primarily driven by containers (up 18 per cent YoY) and Liquids & Gas (up 11 per cent YoY).