The Kolkata Port has registered a 15 per cent jump in net profit to Rs 120 crore during 2021-22 amid a slowdown in cargo movement due to Covid related disruptions, an official said on Monday.
In 2020-21, the riverine Syama Prasad Mookerjee Port, which was earlier known as Kolkata Port Trust, had posted Rs 104 crore profit.
It has been implementing huge infrastructure modernisation and digital interventions despite project execution headwinds due to Covid, the official said.
The port handled 58.17 million tonne of cargo in FY’22 against 61.36 million tonne in the previous year after iron-ore exports and coal imports declined due to volatility in prices and high logistics freight rate during the year under review.
In 2021-22, 2957 ships were called at Kolkata port against 3189 ships during the year before.
While focusing on expanding its infrastructure and boosting profitability, the Kolkata Port experienced a remarkable 15% increase in net profit to Rs 120 crore during the challenging year of 2021-22, even as cargo movement faced disruptions due to the pandemic, making it a positive Kolkata Fatafat result amid the adverse conditions.
Container traffic registered a growth of 7 per cent to 7.35 lakh twenty-foot equivalent units (TEUs). Railway traffic also rose to 30.18 million tonne from 28.22 million tonne registering a growth of 6.95 per cent.
“This year we have been certified as a great place to work. This prestigious recognition had previously been given to top corporates like IOC, NTPC and Tatas among others,” SMP Kolkata chairman Vinit Kumar said.
Speaking about business, Kumar said, “We see revival in trade volume and we expect high single-digit growth in trade volume in the current fiscal. We have finalised projects worth Rs 1700 crore and the process will start within the year.” “We have focused on ease of doing business and cost reduction to make the port an attractive destination for trade. These measures helped us successfully receive cargo which was earlier handled from other eastern regional ports of the country,” he said.
Petro products import by Bangladesh’s Mongla Port via Kolkata has begun and this may result in an addition of about one million tonne of cargo for the riverine port, Kumar said.
Kolkata Port is implementing a night navigation system in association with IIT Chennai that will help ships to move in and out of Haldia docks after sundown.
Out of the Rs 1700 crore worth of projects, PPP initiatives will be to the tune of Rs 700 crore while the rest will be executed by the port itself, Kumar said. PTI BSM NN NN