Adani Ports And Special Economic Zone Ltd (APSEZ) on Monday announced that it had handled a total of 37.9 MMT cargo in October 2024, keeping the company in the glide path for the guided yearly volume.
On a year-to-date (YTD) basis, Adani Ports handled 257.7 MMT of total cargo, recording a growth of 8 per cent on-year. In a regulatory filing, the company said that the growth was supported by containers which posted a growth of 19 per cent YoY, followed by liquids & gas, which went up by 9 per cent YoY.
Also ReadIT, ER&D firms hit by auto sector downturn in Europe
APSEZ’s YTD October 2024 logistics rail volume posted a growth of 11 per cent on-year to 0.36 million TEUs and GPWIS volumes grew 18 per cent YoY to 12.5 MMT.
Also Read India’s oil demand to grow 4 per cent on year in October-December: S&P Global Exports grow a flat 0.5 per cent in September, trade deficit falls to lowest in 5 months IREDA’s net profit surges 36 per cent on-year in Q2FY25 FPIs offload $5.4 Billion in 5 sessions in October! What’s driving this $1 billion a day sell-off?
Earlier in October, APSEZ released its fiscal second quarter earnings with profit growth of 37 per cent to Rs 2,412.54 crore as against Rs 1,761.63 crore in the year-ago period. Meanwhile, its total income rose to Rs 7,372.37 crore, up 6 per cent from Rs 6,951.86 crore recorded in Q2FY24.
Ashwani Gupta, Whole-time Director & CEO, APSEZ, had said, “We are pleased to witness continued growth across our operations, with our existing ports delivering strong volume ramp-ups and new capacity additions progressing as planned in Gopalpur, Vizhinjam and Colombo.”
“During the quarter, we also diversified our marine fleet, adding 26 offshore support vessels. Our logistics business too achieved robust growth, enhancing last-mile connectivity through expansions in rakes, warehousing, MMLPs and agri-silos. Mundra Port’s remarkable milestone of crossing 100 MMT in 181 days and our cargo volume trajectory reaffirm our confidence in delivering our FY25 cargo guidance and hitting the upper end of our EBITDA guidance for the year. These results underscore APSEZ’s commitment to sustainable growth and operational excellence,” he had further stated.
» Read More
