APSEZ clocks record cargo volumes in Q1; net profit down 17%

AHMEDABAD: Adani Ports and Special Economic Zone (APSEZ) on Monday announced in its regulatory filing that the company posted a record quarterly cargo volume in the first quarter of fiscal year 2022-23.


APSEZ handled 91 MT cargo during the quarter, up 8% against the corresponding quarter of 2021-22. However, despite the growth in cargo volumes, the company’s consolidated net profit for the quarter declined 17% to Rs 1,092 crore during the quarter from Rs 1,313 in the corresponding one.

APSEZ is also set to commission two new terminals in the coming months. While the container terminal at Gangavaram Port will be operationalised next month, the 5 MMT LNG terminal at Dhamra will be ready by December end according to the company.

“We are confident of achieving our full year guidance of 350-360 MMT cargo volumes and EBITDA of Rs 12,200-12,600 crore,” said Karan Adani, CEO and wholetime director, APSEZ.