Adani Ports and Special Economic Zone experienced a noteworthy upswing in its shares, rising by 2.80 percent to Rs.1077.40 at 3:20 pm on the BSE. The surge follows the company’s robust performance in December 2023, revealing a significant 42 percent YoY increase in cargo volumes, reaching 35.65 million tonnes for the month.
This growth is attributed to a remarkable 63 percent YoY increase in dry bulk cargo handling and a commendable 28 percent rise in container handling. For Q3, the company achieved an overall cargo volume of around 109 MT, with domestic ports contributing approximately 106 MT.
The cumulative cargo handling for the first nine months of FY24 stood at 311 MT, reflecting a notable YoY growth of 23 percent. Adani Ports marked a milestone by crossing the 300 MT cargo mark in just 266 days, outperforming its previous record. Mundra Port, the flagship port, recorded around 5.5 million TEUs in nine months and is on track to surpass 7 million TEUs in container cargo volumes during FY24.
The port handled 3,000 ships in just 261 days, surpassing its previous record of 288 days in FY23. The strong operational performance underscores Adani Ports’ resilience and efficiency in the current market landscape.