Kolkata Port’s profit up by 65% to Rs 501.73 crore in previous fiscal

Kolkata Port profit: Syama Prasad Mookerjee Port, also known as Kolkata Port, has reported impressive financial results for the fiscal year 2023-24. The port recorded a remarkable 65 per cent increase in profit, reaching Rs 501.73 crore, compared to Rs 304.07 crore in the previous fiscal.

Notably, Kolkata Port achieved an all-time high in cargo handling, surpassing the 66 million tonnes mark in 2023-24. This achievement is particularly noteworthy considering the challenges posed by trade disruptions in sea freight due to geopolitical factors.

The port, comprising the Kolkata Dock System (KDS) and Haldia Dock Complex (HDC), demonstrated a combined growth of 1.11 per cent despite the turbulent trade environment. Chairman Rathendra Raman attributed this success to a series of strategic initiatives aimed at enhancing productivity, safety measures, and business development.

Of significant contribution to this achievement was the Haldia Dock Complex, which witnessed a notable 1.91 per cent increase in cargo handling, reaching 49.54 million tonnes in FY'24. Conversely, the Kolkata Dock System reported a marginal decrease in cargo handling, standing at 16.856 million tonnes compared to the previous fiscal year.

Despite facing headwinds, Kolkata Port's robust financial performance underscores its resilience and adaptability in navigating challenges and emerging stronger. With its focus on enhancing operational efficiency and capacity utilization, the port remains poised for sustained growth and continued success in the dynamic maritime industry.

With PTI Inputs