Adani Ports Reports 12.8% YoY Growth In Cargo Volume For April 2023
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Adani Ports Reports 12.8% YoY Growth In Cargo Volume For April 2023

GQG Partners' Stake In Adani Ports Surpasses 5%

Adani Ports and Special Economic Zone (APSEZ) handled 32.3 million tonnes of total cargo in April 2023, a yearly growth of 12.8 per cent.

According to the company, the growth in cargo volumes was supported by dry cargo volumes, which increased by 9 per cent (iron ore by 64 per cent, non-coking coal by 22 per cent, and coastal coal by 67 per cent) and container volume increased by 13.6 per cent). “Growth in cargo volumes across most of our ports reflects that our strategy of improving operational efficiency is delivering results and this will continue to boost the ROCE (return on capital employed) of port assets,” said Karan Adani, CEO and Whole Time Director, Adani Ports.

“I am also pleased to announce that Dhamra LNG Terminal berthed its first ship and the natural gas started flowing in the pipeline network connected to the terminal, well in line with our guidance of achieving the LNG terminal commissioning during Q1 FY24.”

Four ports recorded significant sequential growth in monthly volumes. These include Krishnapatnam (5.2 MMT, up 22.6 per cent), Dhamra (3.3 MMT, up 36.8 per cent), Tuna (1.15 MMT, up 57.6 per cent), and Katupalli and Ennore combined (1.7 MMT, up 13.3 per cent).

Adani Ports and Special Economic Zone Ltd (APSEZ), a part of the globally diversified Adani Group, has six strategically located ports and terminals on the west coast (Mundra, Dahej, Tuna and Hazira in Gujarat, Mormugao in Goa and Dighi in Maharashtra) and five ports and terminals on the East coast of India (Dhamra in Odisha, Gangavaram, and Krishnapatnam in Andhra Pradesh, and Kattupalli and Ennore in Tamilnadu) representing 24 per cent of the country’s total port volumes.


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