Adani Port, a company of Adani Group, has created a new record. In the first six months of FY23, the company has transported 177.5 MMT of cargo, which is 11% higher than the corresponding period last year, the company said in a statement.
adani ports and special economic zone
Adani Port and Special Economic Zone (APSEZ) has set a new record for freight traffic. According to the company, the cargo volume reached 261 lakh metric tonnes in September. There is a growth of 13% in transportation in one year. Adani Port and Special Economic Zone says that there is a 13% increase in cargo volume in a year when Monsoon The days were longer than before. That is, even after the rain, there has been an increase in the movement of cargo. The demand for coal fell during the monsoon, due to which imports were also less. The month of September saw a ban on the export of chavar and higher taxes. Despite this, there has been an increase in cargo volumes.
In the first six months of FY23, the company has transported 177.5 MMT of cargo, which is 11% higher than the corresponding period last year, the company said in a statement. According to the annual cargo target set by the company, the average monthly cargo run rate is operating properly. East cargo volumes grew by 13% during the first half of FY23, with Krishnapatnam (+13%), Gangavaram (+9%) and Kattupalli and Ennore (+51%) contributing significantly. West Coast has seen an increase of 10 per cent in volume with Mundra (8%), Dahej (65%), Tuna (19%) having a significant share.
Adani Port’s new company
Meanwhile, Adani Port and Special Economic Zone has said that it has incorporated its subsidiary company Adani Aviation Fuel (AAFL) on 29 September 2022 with a paid up capital of Rs 5 lakh. AAFL will deal in aviation oils and its main functions will be sourcing, transporting, supplying and trading of fuel. Along with this, AAFL will look after the construction, development, management, maintenance work, building, equipment and hiring of infrastructure related to the fuel business.
adani port business
Adani Port said that AAFL is a company associated with the aviation fuel industry and is yet to start its business operation. Adani Port and Special Economic Zone looks after the development, operation and maintenance of port infrastructure. This company is associated with the Multi Product Special Economic Zone located in Mundra, Gujarat. The company’s net profit fell 16.86% to Rs 1,091.56 crore in Q1 FY23 as against Rs 1,312.99 crore recorded in Q1 FY22. Revenue from operations declined by 0.71% to Rs 4,637.95 crore in Q1 FY23 from Rs 4,671.19 crore in Q1 FY22. Shares of Adani Ports and Special Economic Zone closed 0.43% down at Rs 817.50 on the BSE.