Business Standard

Gautam Adani's APSEZ cargo grows 24% at 420 million tonnes in FY24

At the start of FY24, the company's guidance for cargo volumes for the fiscal year was 370-390 mmt. 408 mmt of the company's cargo volumes came from its domestic ports

Adani Ports, APSEZ

Representational Image

Dhruvaksh Saha New Delhi

Listen to This Article

Gautam Adani-owned Adani Ports and Special Economic Zone (APSEZ) – India’s largest port operator – handled 420 million metric tonnes (mmt) of cargo in the financial year 2023-24, registering a significant 24 per cent growth, the company said on Monday.

“It (APSEZ) has also handled its highest ever monthly cargo volumes (including international ports) of over 38 MMT in March 2024. Ten of our ports and terminals handled record cargo volumes: Mundra 180 MMT, Tuna 10 MMT, Hazira 26 MMT, Mormugao 5 MMT, Karaikal 12 MMT, Ennore 13 MMT, Kattupalli 12 MMT, Krishnapatnam 59 MMT, Gangavaram 37 MMT and Dhamra 43 MMT,” a statement by APSEZ said.

At the start of FY24, the company’s guidance for cargo volumes for the fiscal year was 370-390 mmt. 408 mmt of the company’s cargo volumes came from its domestic ports.

At its current volumes, over a fourth of India’s cargo was moved through an Adani port, according to the company. It also accounted for 44 per cent of India’s containerised seaborne cargo.

“Its container volumes have grown by 2X of India’s container growth (approximately 11 per cent as compared to the all-India growth of approximately 5 per cent) in the last 5 years. Mundra port handled record container volumes by rail of 1.9 million TEUs (twenty-foot equivalent units), a growth of 12 per cent over last year,” APSEZ said.

“While it took 14 years for the company to achieve the first 100 MMT of annual cargo throughput, the second and third 100 MMT throughputs were achieved in 5 years and 3 years, respectively. The latest 100 MMT mark has been achieved in less than two years,” Karan Adani, Managing Director of APSEZ, said.

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Apr 01 2024 | 8:54 PM IST

Explore News