APM Terminals Pipavav (Gujarat Pipavav Port Ltd) reported a 62 per cent rise in consolidated net profit at ₹109.6 crore for the first quarter ended June 30, 2024, compared to ₹67.8 crore in the corresponding period of last year.
Revenue from operations for the first quarter under consideration stood at ₹245.9 crore against ₹214.9 crore in the corresponding period of last year, the company stated in an official release.
“Our commitment to operational excellence has translated into a significant 62 per cent increase in consolidated net profit in Q1 FY24-25 compared to same quarter last year. This growth is bolstered by a robust rise in revenue and a healthy EBITDA margin. We’ve also witnessed impressive growth in RORO and liquid cargo volume which demonstrates our ability to effectively serve our customer’s needs. Looking ahead, we remain dedicated to continuous improvement and delivering best-in-class services at APM Terminals Pipavav. Looking ahead, we remain optimistic about the opportunities in the Indian ports sector,” said Girish Aggarwal, Managing Director, APM Terminals Pipavav.
Liquid volume grew 31.8 per cent to 345,000 mt and volume under Ro-Ro grew to 39,000 units against 14,000 units in the corresponding period of last year. The container volume was 165,000 TEUs; dry bulk volume was 552,000 mt, the release added.