Adani Ports sees itself on track
Adani Ports and Special Economic Zone (APSEZ) has released its results for the third quarter and nine months of its FY ending on 31 December 2022. Altogether, the company handled 252.9 million t of cargo from April to December 2022, an increase of 8% compared to the same period last year. Container volumes grew by 5% year-on-year.
The automotive segment, though a small proportion of overall throughput, saw a leap of 22% in volumes. APSEZ reported that its facilities handled 24% of India's total cargo.
Over the same period, the company's revenues increased by 16% to USD 1.8 billion, while port revenue increased by 22% and logistics revenue by 43% compared to the same period last year. Ebitda grew by 19% to USD 1.1 billion. For FY 2024, APSEZ is targeting an ebitda ranging between USD 1.7 and USD 1.8 billion.