Adani Ports Maintains Growth Trajectory in April 2024

Adani Ports and Special Economic Zone Limited (APSEZ) reported positive results for their April 2024 operations, continuing their growth trajectory. The company successfully handled 36.2 Million Metric Tonnes (MMT) cargo during the month, representing a commendable 12% increase year-on-year (YoY).

This growth was widespread across APSEZ’s domestic ports, with Dhamra Port achieving a significant milestone by recording its highest-ever monthly cargo volume of 4.38 MMT. Furthermore, APSEZ witnessed positive movement across the three main cargo categories:

• Dry Cargo: This segment saw a healthy increase of 7% YoY.
• Liquid & Gas Cargo: Liquid and gas cargo witnessed a significant surge of 29% YoY.
• Container Cargo: Container cargo also displayed promising growth of 14% YoY.

Beyond port operations, APSEZ’s logistics segment maintained its momentum. Rail volumes grew by 5% YoY to 49,430 TEUs (Twenty-foot Equivalent Units), while GPWIS (Gateway Port Warranty & Indemnity Scheme) volumes witnessed a substantial increase of 26%, reaching approximately 1.8 MMT.

This impressive performance highlights Adani Ports’ continued strength in the Indian maritime sector. Their ability to handle a diverse range of cargo efficiently, coupled with growth in the logistics segment, positions them for sustained success in the ever-evolving maritime industry.

On April 30, 2024, Adani Ports and Special Economic Zone Limited was assigned a AAA rating for the following facilities by CARE Ratings. As a result, the company has become the first private sector corporate infrastructure developer to be assigned the top-tier rating.

Check: Adani Group Stocks

About Adani Ports & Special Economic Zone Limited

Adani Ports & Special Economic Zone is engaged in the 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 the Port at Mundra. On May 02, 2024, Adani Port shares opened at ₹1,335.25 and touched the day low of ₹1,307.20 at 10:05 AM.

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