Adani Ports cargo volumes jump 17% to 28.64 MMT in April

Adani Ports & Special Economic Zone announced the highlights of operational performance as under:

– Adani Ports handled a cargo volume of 28.64 MMT in April ’22 vs. 24.46 MMT in April ’21, implying a y-o-y growth of 17%.

– The coal volumes bounced back and registered a 23% y-o-y growth
– The agriculture cargo and fertilizer handling at its ports has seen a 350% increase y-o-y.

Last month, the Government of India also announced that the country is likely to see a record wheat export this financial year.

– China’s decision to cap its steel production has provided a boost to India’s steel industry, which is reflected in a 35% y-o-y jump in coking coal volume at the company’s ports.

– Overall, April is the second consecutive month, with cargo volumes crossing a record level of 28 MMT
Source: Capital Market