Adani Ports and Special Economic Zones rose 1.52% to Rs 850.50 after the company’s handled cargo volume increased by 18% YoY to 29.3 MMT in August 2022.
Of the total cargo volume handled, dry bulk cargo volume increased by 44% YoY while container volume increased by 8% YoY during the review period.
In a record 49 days, the company achieved a cargo throughput of 50 MMT (YTD cargo volume increased from 100 MMT to 150 MMT).
In the first five months of FY23, the company handled 151.4 MMT of cargo, an 11% increase over the same period last year, which benefited from the post-COVID volume surge.
Adani Ports & Special Economic Zones is in the business of development, operation and maintenance of port infrastructure (port services and related infrastructure development) and has connected various Special Economic Zone (SEZ) products and related infrastructure adjacent to the port in Mundra.
APSEZ’s consolidated net profit fell 16.86% to Rs 1,091.56 crore in Q1 FY23 compared to Rs 1,312.99 crore recorded in Q1 FY22. Revenue from operations declined 0.71% to Rs 4,637.95 crore in Q1 FY23 from Rs 4,671.19 crore reported in Q1 FY22.
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