APM Terminals Pipavav consolidated net profit rises 14%

11 Aug 2023 CW Team

APM Terminals Pipavav (Gujarat Pipavav Port), one of the leading gateway ports in Western India reported a 14% rise in consolidated net profit at Rs 678.26 million for the first quarter that ended on June 30, 2023, compared to Rs 593.39 million in the corresponding period of last year.

Revenue from operations for the first quarter under consideration stood at Rs 2,149.18 million as against Rs 2,065.53 million in the corresponding period of last year. EBITDA for the quarter is at Rs 1,058.42 million as against Rs 1,116.43 million in Q1FY23. EBITDA margin stood at 49.25% in Q1FY24 as against 54.05% in Q1FY23.

The container volume grew 7% to 199,000 TEUs; dry bulk volume fell 28% to 0.67 million MT; liquid volume grew 29% to 0.26 million MT and volume under Ro-Ro grew 118% to 14,000 units against 6,000 units in the corresponding period of last year. Container trains handled during the quarter rose 10.6% to 523 from 473 in Q1 FY23.

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