Adani Ports and Special Economic Zone Ltd (APSEZ) on Thursday announced that the company handled its highest-ever monthly cargo volume of 32.3 million metric tonnes (MMT) in April 2023, showing a 12.8 percent growth on a yearly basis.

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The rise in cargo volumes was led by a dry cargo volume increase of 9 percent (iron ore 64 percent, non-coking coal 22 percent, and coastal coal 67 percent) and a container volume increase of 13.6 percent, a company filing stated.

The Adani group company stated that its Krishnapatnam Port and Tuna Port recorded all-time high monthly volumes.

Cargo volume of Krishnapatnam Port rose by 22.6 percent to 5.2 MMT, while Tuna Port posted a 57.6 percent jump in monthly volumes to 1.15 MMT.

According to the filing, Dhamra ports handled 3.3 MMT of cargo volume in April, up 36.8 percent year-on-year while Katupalli and Ennore combined handled 1.7 MMT of cargo, registering a growth of 13.3 percent over the year-ago month.

Dhamra LNG Terminal berthed its first ship and the natural gas started flowing in the pipeline network connected to the terminal, well in-line with the company’s guidance of achieving the LNG terminal commissioning during the June quarter of financial year 2024.

APSEZ said that Mundra Liquid Terminal handled its largest shipment of vegetable oil (soybean oil) of 61,841 MT surpassing the previous highest of 57,000 MT (palm oil).

The Gangavaram Port handled its highest monthly rakes count on account of handling coastal coal cargo for one of its customers.

According to CEO and Whole Time Director Karan Adani, growth in cargo volumes reflects that the company strategy to improve operational efficiency is delivering results and this will continue to boost the Return On Capital Employed (RoCE) of port assets.

Adani Ports has six strategically located ports and terminals on the west coast (Mundra, Dahej, Tuna and Hazira in Gujarat, Mormugao in Goa and Dighi in Maharashtra) and 5 ports and terminals on the East coast of India – Dhamra in Odisha, Gangavaram, and Krishnapatnam in Andhra Pradesh, and Kattupalli and Ennore in Tamilnadu— representing 24 percent of the country's total port volumes.

Shares of Adani Ports are trading little changed at Rs 670.55.

(Edited by : Rukmani Krishna)