India’s Adani Ports group handled 76 million tonnes of cargo in the first quarter of the 2021/2 financial year, 83% up on the preceding three months, its highest quarterly growth rate to date. The company increased its market share of all Indian ports cargo throughput to 28.6%, and to 42.7% in the container segment.
Revenues were up by 99% in this period, while profitability on an EDITDA basis jumped by 82%.
Karan Adani, Chief Executive Officer, says, “We have raised our target cargo volumes for this year to 350-360 million tonnes, which translates to unprecedented year-on-year growth of about 45%. I am also pleased to state that our goal of becoming the first port company to be carbon neutral by 2025 is very well on track.”
In the container segment, Adani Ports handled 2.08 million TEU, a growth rate of 69% compared with an all-India increase of 51%. In the first three months. Additionally, the rail operator Adani Logistics registered a 10% growth in rail volumes, handling 84,717 TEU in the first quarter of the 2022 financial year, compared with 76,925 TEU in the equivalent months of the 2021 financial year.