Adani Ports' Total Cargo Volume Jumps 12% In June

Adani Ports and Special Economic Zone Ltd.'s total cargo volume rose 12% in June, led by growth in the containers, liquids, and gas segments. During the month, the Kattupalli Port handled its highest-ever monthly cargo volume of 1.36 million metric tonnes, according to an exchange filing.

The container volumes rose by 33% year-on-year, while the liquids and gas volumes rose by 8%, compared to the same period last year, according to an exchange filing on Tuesday.

For the quarter ended June 30, 2024, the Adani Group company's total cargo volume was 109 million metric tonnes, a 7.5% growth compared to the same quarter last year.

During the year, the growth in cargo was primarily driven by containers, which grew by 18%, and liquids and gas, which saw a growth of 11% year-on-year.

Within the logistics segment, quarterly rail volumes stood at 1.56 lakh twenty-foot equivalent units, and the general purpose wagon investment scheme volumes were at 5.56 MMT. Both saw growth of 19% and 28% year-on-year, respectively.

S&P Ratings, last month, revised the outlook of Adani Ports to 'positive' from 'stable', as it expects the company's improving financials to help accommodate high capital expenditure.

Shares of Adani Ports rose as much as 1.02% during the day to Rs 1,489.6 apiece on the NSE. It was trading 0.10% lower at Rs 1,473 apiece, compared to a 0.01% decline in the benchmark Nifty 50 as of 2:52 p.m.