Adani Ports & SEZ reports 12% growth in cargo volumes in April

Adani Ports and Special Economic Zone Ltd (APSEZ) reported a 12% year-on-year growth in cargo volumes in April 2024.
The Adani group company in an exchange filing said it handled 36.2 MMT of total cargo in April 2024, which is a good 12% YoY growth. While most domestic ports reported growth in cargo volume in April, Dhamra Port posted the highest monthly cargo volume of 4.38 MMT, APSEZ said. Across categories, dry cargo volume rose by 7% year-over-year, liquid and gas by 29% and container volume by 14% over the year-ago period. The logistics segment also reported growth with rail volumes rising by 5% YoY to 49,430 TEUs and GPWIS volumes increasing by 26% to 1.8 MMT. APSEZ shares dropped more than 1% to hit a low of ₹1307.2 apiece on BSE in morning trade. The stock opened higher at ₹1335.25 per share but could not hold onto gains.