Mumbai, Aug 4: Adani Ports and Special Economic Zone Limited (APSEZ) on Monday reported an 8 per cent year-on-year (YoY) rise in cargo volumes for July, handling 40.2 million metric tonnes (MMT).

The growth was led by a strong 22 per cent jump in container volumes, according to company’s operational performance update in a stock exchange filing.

For year-to-date (YTD) till July, the company handled 160.7 MMT of total cargo, up 10 per cent from the same period previous year, with container volumes surging 20 per cent.

In its logistics business, rail volumes rose 17 per cent YoY to 60,940 twenty-foot equivalent units (TEUs) in July, while GPWIS (Gangavaram Port–Vizag Iron Ore Supply) cargo volumes fell 13 per cent to 1.61 MMT.

Year-to-date (YTD), logistics rail volumes were up 15 per cent to 240,419 TEUs, and GPWIS cargo volumes increased 3 per cent to 7.67 MMT.

Following the operational update, Adani Ports’ share price rose over 2 per cent on Monday to Rs 1,374.85 apiece on the Bombay Stock Exchange (BSE) during intra-day trade.

The stock has gained 12 per cent so far this year and delivered 77 per cent returns in the past two years. Over a five-year period, it has surged 335 per cent.

Last month, APSEZ made headlines for inaugurating the world’s first steel slag road at any private port.

The 1.1-kilometre sustainable road at Hazira Port in Surat connects the Multi-Purpose Berth to the coal yard and is built using processed steel slag, a by-product of steel manufacturing.

The project, developed with the Council of Scientific and Industrial Research–Central Road Research Institute (CSIR-CRRI) and the Union Ministry of Science and Technology -- reflects the company’s commitment to green infrastructure and circular economy practices.

"With this initiative, APSEZ continues to lead the transformation of India’s logistics sector, blending innovation, industrial ecology, and infrastructure resilience in service of national growth," the company mentioned.

(IANS)

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