Adani Ports Hit Record Quarterly Cargo Volume, Up 11.5% in Q1 of FY2024

India’s largest private port operator Adani Ports and Special Economic Zone has set a new quarterly volume record by handling more than 101 MMT of cargo in the first quarter of the 2023/24 financial year.

The market heavyweight announced on Monday that its total cargo volume posted strong year-on-year growth of 11.5%, reaching about 101.4 MMT in the April-June 2023 period.

Growth was seen in most ports as well as in all three major cargo segments of Adani Ports, with container segment showing 19% yoy growth, liquid and gas segment 7% yoy growth and Dry Bulk” posted 7% year-on-year growth in Q1 FY2024.

The Adani giant said on July 3, 2023 that the company handled about 32.8 MMT of cargo in June 2023 alone, including almost 1 MMT at its port in Haifa, Israel.

Additionally, the Company’s logistics volume also saw a significant increase in the June quarter, with year-to-date (YTD) rail volume up 18% YoY to 131,420 TEU and GPWIS volume up a notable 40% at 4.35 MMT .

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