India’s Adani Ports group has enjoyed a very positive first quarter of the 2017 financial year. Cargo volumes across its port network rose by 7%, on a year-to year basis, to 42.33 million tonnes, with container throughput jumping by an impressive 27% By comparison the average rate of growth for cargo at all Indian ports in this period was 4%, underlining the fact that Adani has been able to outperform the market generally.
Total income was up by 11%, the company states, with consolidated profits up 31% in this period
Karan Adani, chief executive officer, said, “A healthy growth in cargo volumes, operational efficiencies and our strategy to increase bulk cargo volumes, other than coal, have enabled us to report all round growth in our financial numbers. Our bottom line growth is a result of our immense focus on controlling borrowing costs along with maintaining high EBITDA margin.” Looking forward Adani says it plans to concentrate on coastal shipping, the commissioning of CT4 at Mundra, and achieving further growth in volumes at the port of Kattupalli.