Adani Ports & Special Economic Zone Ltd.’s (APSEZ) consolidated second-quarter net profit rose 32% to ₹1,394 crore on an overall improvement in port operations. “With easing of lockdown and revival of economy, cargo throughput at APSEZ rebounded and registered a spectacular growth. The growth was across segments and coasts,” the company said in a filing.
On the back of rebound in economic activities, cargo volume registered a growth 7% year on year.
Adani Logistics operates 60 rakes and continues to be the largest private rail operator in India and handled rail volume of 69,061 TEUs in Q2 of FY21.
Karan Adani,CEO and whole time director, APSEZ said, “APSEZ has proven the utility nature of its portfolio of assets by increasing the market share in India to 24% in overall cargo. Our focus continues to be on preserving cash and ensuring adequate liquidity. We continue to increase our free cash generation, in H1 FY21 cash flow from operations after adjusting for working capital changes, capex and net interest cost, stands at ₹2,884 crore.”
“We expect cargo volume in full year FY21 to be in the range of 245 to 250 MMT including KPCL, which we acquired in October 2020,” he said.
In October the company’s ports excluding Krishnapatnam Port (KPCL) handled cargo volume of 22 MMT which is a growth of 21% on a year on year basis. KPCL the newest port in our portfolio handled cargo volume of 3.2 MMT.
