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The 57 million tonnes handed by Adani Ports across its Indian ports network in the first quarter of the 2020 financial year was a new record for the company. The cargo throughput represented an 18% increase compared with the first three months of the previous financial year. Adani Ports’ container business also reached an all-time high of 1.5 million teu.
Growth was shared across the network, with Dhamra port being the fastest growing, achieving a 43% rate of increase. Adani’s flagship facilities in Mundra achieved a 16% growth rate, while those in Hazira and Kattapulli grew by 20% and 16% respectively. Terminals in major ports, including Tuna, Vizag, Goa and Ennore, registered a combined 35% increase.
The commercial performance of Adani Ports was also impressive in this period. After tax profits of RS 1011 crore (US$142.5 million) were 46% higher than in the equivalent months of 2018/19. Deepak Maheshwari, Chief Financial Officer, added, “Continued strength in our core operations has resulted in a 16% increase in both our consolidated operating revenue and EBITDA, maintaining our EBITDA margins. We are focused on allocating capital efficiently and improving the return on capital employed.”
Adani claims to control around 24% of India’s total port capacity. To supplement its already storing network of import and export facilities, the company is also developing a transhipment port at Vizhinjam, Kerala.
