Adani Ports gains after handled cargo volume rises 8% YoY in Feb

Adani Ports and Special Economic Zone (APSEZ) rose 1.31% to Rs 701.95 after the company said that it handled cargo volume of 21.12 MMT in February 2021, registering a growth of 8% on year-on-year (YoY) basis.

This includes cargo volume of 2.95 MMT handled at Krishnapatnam Port, the company said in a regulatory filing made during market hours today.

Similarly, till February 2021, APSEZ handled cargo of 221.26 MMT a growth of 8% on year-on-year basis. This includes cargo volume of 16.57 MMT handled at Krishnapatnam port from the date of acquisition i.e. October 2020.

APSEZ, a part of globally diversified Adani Group, is the largest port developer and operator in India. On a consolidated basis, the company posted a 16.23% increase in net profit to Rs 1576.53 crore on 11.59% rise in total income to Rs 4274.49 crore in Q3 FY21 over Q3 FY20.