Adani Ports and Special Economic Zone Limited ("APSEZ") has announced the operational performance for September 2022 and Q2 FY23.
September 2022 - Q2 FY23 volumes see a strong 15% YoY increase
1. In September 2022, APSEZ recorded 13% YoY growth in cargo volumes to reach 26.1 MMT. This volume jump is despite an extended monsoon which adversely impacted the coal demand/imports and the ban/higher duties on rice exports imposed at the beginning of the month.
2. In the initial six months of FY23, the Company managed 177.5 MMT of cargo, which is a good 11% increase over the corresponding period last year. The average monthly cargo run rate is well aligned within our annual guided range of 350 -360 MMT.
3. During 1HFY23, east coast volumes are up 13% YoY, supported by Krishnapatnam (+13%), Gangavaram (+9%) and Kattupalli & Ennore combined (+51%). The west coast volume jump of 10% is supported by Mundra (8%), Dahej (65%), Tuna (19%), and Goa (22%).