Kolkata Port Profit Soars 65% to Rs 501cr in FY'24 | Record Cargo Handling
By Rediff Money Desk, KOLKATA Apr 04, 2024 21:27
Kolkata Port records a record high of 66.4 million tonnes of cargo handling in FY'24, with profit jumping 65% to Rs 501.73 crore. Read more.
![Kolkata Port Profit Soars 65% to Rs 501cr in FY'24 | Record Cargo Handling](https://im.rediff.com/money/2024/jan/29port.jpg)
Photograph: Ilan Rosenberg/Reuters
Kolkata, Apr 4 (PTI) The 154-year-old Syama Prasad Mookerjee Port or Kolkata Port records Rs 501.73 crore profit in FY'24, a 65 per cent jump compared to that in the previous fiscal.
The port said its net surplus in 2022-23 was Rs 304.07 crore.
It also recorded an all-time high of 66.4 million tonnes of cargo handling in 2023-24.
The port which has Kolkata Dock System (KDS) and Haldia Dock Complex (HDC) under its command recorded a combined growth was 1.11 per cent owing to trade disruptions in sea freight due to geopolitical reasons.
In 2022-23, the port had handled 65.66 million tonnes.
Chairman Rathendra Raman attributed the rise in cargo handling amid disruptions to a series of strategic initiatives implemented by the port to enhance productivity, safety measures, business development, and overall capacity utilisation.
HDC's significant contribution played a pivotal role in this achievement, with the complex handling 49.54 million tonne in FY'24, representing an increase of 1.91 per cent.
Meanwhile, KDS logged 16.856 million tonnes of cargo in 2023-24 compared to 17.052 million tonnes in 2022-23.
The port said its net surplus in 2022-23 was Rs 304.07 crore.
It also recorded an all-time high of 66.4 million tonnes of cargo handling in 2023-24.
The port which has Kolkata Dock System (KDS) and Haldia Dock Complex (HDC) under its command recorded a combined growth was 1.11 per cent owing to trade disruptions in sea freight due to geopolitical reasons.
In 2022-23, the port had handled 65.66 million tonnes.
Chairman Rathendra Raman attributed the rise in cargo handling amid disruptions to a series of strategic initiatives implemented by the port to enhance productivity, safety measures, business development, and overall capacity utilisation.
HDC's significant contribution played a pivotal role in this achievement, with the complex handling 49.54 million tonne in FY'24, representing an increase of 1.91 per cent.
Meanwhile, KDS logged 16.856 million tonnes of cargo in 2023-24 compared to 17.052 million tonnes in 2022-23.
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Vodafone Idea L
- 17.90 ( -3.35)
- 166585989
- Alstone Textiles
- 0.75 (+ 8.70)
- 47681821
- GTL Infrastructure
- 3.27 (+ 4.81)
- 44040612
- Visagar Financial
- 0.91 (+ 12.35)
- 29755394
- YES Bank Ltd.
- 23.70 (+ 0.77)
- 22163699
MORE NEWS
![Indian Economy...](https://im.rediff.com/80-80/money/2020/nov/22economy.jpg)
Indian Economy Growth: Exports, Manufacturing &...
Mumbai, June 30 (PTI) Healthy increase in the country's exports, improvement in the...
![India Launches...](https://im.rediff.com/80-80/news/2020/jul/imports-o.jpg)
India Launches Anti-Dumping Probe on Glass...
New Delhi, June 30 (PTI) India has initiated an anti-dumping probe into the import of...
![IBBI Launches...](https://im.rediff.com/80-80/money/2020/dec/16insolvency.jpg)
IBBI Launches Electronic Forms for Liquidation...
New Delhi, Jun 30 (PTI) To ease the compliance burden for insolvency professionals, and...