Traffic volumes handled by the privately owned Adani Ports network increased significantly over the financial year ending March 31st 2018. Cargo volumes overall were up by 7%, to 180 million tonnes, while the container throughput of its terminals surged by 20%, to reach 5.11 million teu. This was much higher than the average growth rate seen at Indian container ports, which was around 4% in the last financial year.
Revenues generated by Adani’s port and special economic zone operations was up by 34% in the year, to RS 11,323 crores. This performance delivered a post-tax profit of RS 3,683 crores for the year, which would have been higher were it not for tax changes that affected its Mundra port business.
Karan Adani, chief executive officer, said, “It has been another year of strong performance. We will continue to give thrust to increasing capacity utilisation and improving operational efficiencies.”
Adani Ports is the country’s largest port company with operations in the ports of Mundra, Hazira, Tuna Tekra (Kandla) and Dahej, in Gujarat, Dhamra in Odisha, Katupalli and Ennore in Tamil Nadu. It also operates specialised coal handling facilities at Mormugao in Goa and Visakhapatnam in Andhra Pradesh and is in the process of setting up a container transhipment hub at Vizinjham in Kerala.