Container levels rose by a quarter in Adani Ports results | Whuff News

Adani Ports and Special Economic Zones (APSEZ) has seen its container throughput increase by a quarter in its latest financial year results.

Through the nine-month financial year 2022, the global port operator handled 6.2 million TEUs – a 25 percent increase over the same period in the previous financial year.

The results announced on February 1 include results for the third quarter, and nine months of the financial year ending December 31, 2021.

Growth in its container segment means APSEZ now commands 42.2 percent of the box market in India, where the company primarily operates.

Adani ports on India’s east coast increased their cargo output by 58 percent, and ports on the west coast saw a 10 percent increase.

APSEZ-operated Mundra Port continues to be the largest container handling port in the country, handling 4.9 million TEUs.

Adani Logistics, the logistics arm of APSEZ, recorded 25 percent growth in rail volume to 284,477 TEU and 13 percent growth in terminal volume to 211,679 TEU.

Despite seeing a 6 percent drop in profit after tax in its third-quarter results, the operator reported a nine-month profit of Rs 3,762 crore ($502 million). That was a 1 percent increase on the financial year results for the previous year.

In September 2021 APSEZ took over the Gangavaram Port (GPL) following the acquisition of Andhra Pradesh government’s 10.4% stake for Rs 646 crore ($87.4 million).

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