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Home Port News Adani Ports handles 6.2 million TEU during April-December period

Adani Ports handles 6.2 million TEU during April-December period

Adani Ports and Special Economic Zone Limited (APSEZ), the largest transport utility in India, has announced its operational and financial results for the first nine months of the Fiscal Year 2022 (April 2021 - December 2021).

The terminal operator handled 6.2 million TEU during this period, representing a year-on-year increase of 25%, while all India cargo growth saw a 19% volume increase. Mundra continues to be the largest container handling port with 4.9 million TEU.

In the meantime, Adani Logistics (ALL), the largest private rail operator in India, registered a 25% growth in rail volume by moving 284,477 TEU, as well as a 13% growth in terminal volume to 211,679.

Moreover, Adani Port's total cargo volumes during 9M FY 2022 completed 212 million metric tonnes, registering a year-on-year growth of 22%, compared to the 7% growth recorded by all India cargo volumes.

Financial results of APSEZ were also encouraging with total revenue rising by 35% over the first nine months of FY 2021 and exceeding US$1.61 billion. In addition, the terminal operator recorded an increase of 29% in earnings before interest, taxes, depreciation and amortisation (EBITDA) year-on-year, to more than US$993 million.

"APSEZ had shown tremendous resilience all through the pandemic period," said Karan Adani, CEO and director of APSEZ.

The addition of two ports in 2021 – Krishnapatnam and Gangavaram in Andhra Pradesh on the east coast of India – to the ones on the west coast have tightened the company's pan-India presence, according to a statement.

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