Adani Ports and Special Economic Zone (APSEZ) has announced that the first quarter of the 2023 financial year was the best in the company’s history with a record cargo volume and its highest ever quarterly profit on an EBITDA basis. Cargo volumes were up by 8% compared with the same quarter of the 2022 financial year, which delivered a 18% jump in EBITDA.
With APSEZ set to commission two new terminals in the coming months, this growth will gain more momentum. The container terminal at Gangavaram Port will become operational in September, while the 5 million tonnes annual capacity LNG terminal at Dhamra will be ready by the end of December.
During the first quarter APSEZ handled 90.89 million tonnes of cargo. In total. The growth in throughput volume was led by dry cargo, with an 11.2% increase, followed by containers and liquids which were up by 3.2% and 5.6% respectively. The automobile segment, although a small proportion of overall APSEZ business, saw a 120% jump in volumes. Mundra continues to be the largest container handling port in India with a throughput of 1.65 million TEU over these three months, APSEZ points out.
APSEZ also highlights its environmental progress. Around 14 % of its energy needs are now met by renewable sources, and four of its quayside cranes, out of a total of 14, were electrified in this period. Additionally orders for 100 electric intra-terminal vehicles (ITVs) were placed by the company.
