Adani Ports gains 2% after November cargo volume rises 21%

Shares of Adani Ports and Special Economic Zone Ltd gained 2% to trade at an intraday high of ₹1,213.45 apiece on the BSE on Monday, December 2, after the company reported strong growth in cargo volume in November.

Adani Ports and SEZ informed the exchanges that it handled 36 Million Metric Tons (MMT) of cargo in November 2024. The Adani Group company said the ‘container’ segment contributed the most — 21% growth — to the company’s cargo handling business compared to the same month of the previous year.

In the eleven months of 2024, the cargo handled by the company grew by 7%  to 293.7 MMT compared to the same period in 2023. The growth was led by the company’s container business, which grew by 19% and the liquids and gas business, which grew by 7% YoY in the eleven months of November.

The company’s volumes grew 10% to 4.2 lakh Twenty-Foot Equivalent Unit (TEUs) and General Purpose Wagon Investment Scheme (GPWIS) volumes grew 15% to 14.2 MMT, this year, so far.

The company’s consolidated revenue from operations for the September quarter of FY25 increased by over 6% to ₹7,067.02 crore compared to ₹6,646.41 crore in the September quarter of FY24. The company’s profit-after-tax for the September quarter grew nearly 37% to ₹2,412.54 crore against ₹1,761.63 crore in the previous year.

Shares of Adani Ports and SEZ have gained more than 42% in the last one year. The stock has rallied nearly 16% this year, so far.

Adani Ports was trading 1.46% higher at ₹1,207.05 apiece, on the BSE at 9:47 am.

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