Adani Ports shares slip even as Q1 cargo volume jumps 11.5% YoY – Business Today

Shares of Adani Ports and Special Economic Zone Ltd (Adani Ports) were trading half-a-per cent lower in Monday’s trade even as the Adani group firm said it has set a new record on quarterly volumes, with over 101 million metric tonne (mmt) of cargo handled in the June quarter.
In a brief release, Adani Ports said Adani Ports clocked 101.4 mmt of total cargo volumes in the June quarter, up 11.5 per cent YoY. Growth, Adani Ports said, was observed across most ports and all three broad cargo segments. The Container segment logged 19 per cent growth, Liquids & Gas segment reported 8 per cent while Dry Bulk clocked 7 per cent growth, Adani Ports said.
In June alone, Adani Ports handled 32.8 mmt of cargo including 1 mmt at its Haifa Port. Logistics volume also continue to record significant jump with year-to-date rail volumes of 1,31,420 TEUs (up 18 per cent YoY) and GPWIS volumes of 4.35 mmt (up 40 per cent), Adani Ports said. TEUs (twenty feet equivalents) are the standard units for quantifying cargoes at container ships.
Shares of Adani Ports were, however, trading 0.51 per cent lower at Rs 735.15 on BSE.
On July 2, Adani Ports said Mundra Port achieved a significant accomplishment by berthing a 399 meters long and 54 meters wide vessel. The MV MSC Hamburg, a container ship built in 2015, was recently anchored at the Adani Ports Mundra, the company said.
Adani Ports’ ports and terminals represent 24 per cent of the country’s port capacity.
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