Gujarat Pipavav outperforms market

While the equity markets have been dull in the past three months, Gujarat Pipavav Port (GPPL), a subsidiary of international container terminals and port company APM Terminals, has gained 8 per cent. This is despite the company reporting weak results in the December 2015 quarter with total volumes falling 18 per cent to 3.3 mn tonne, revenues dropping 10 per cent to Rs 165 crore and higher deferred taxes pulling down profits by 40 per cent to Rs 53 crore, on a year-on-year basis. Contact: Gujarat Pipavav Port. Tel: 022-3001 1300.