APM Terminals Pipavav Reports 62% Surge in Q1 Net Profit

12 Aug 2024 CW Team

APM Terminals Pipavav announced a remarkable 62% increase in consolidated net profit, reaching Rs.1.10 billion in the June quarter compared to the same period last fiscal year. The private port operator recorded a net profit of ?678 million in the first quarter of FY24.

Revenue from operations for the quarter stood at Rs.2.46 billion, reflecting a 14% rise from ?2.14 billion in the previous year.

The consolidated EBITDA (earnings before interest, tax, depreciation, and amortization) was reported at Rs.1.50 billion, marking a 41% growth year-on-year from Rs.1.06 billion in Q1 FY23-24.

According to the port operator, liquid cargo volume surged by 31.80%, totaling 345,000 MT, while volume under Ro-Ro services increased significantly to 39,000 units, up from 14,000 units during the same period last year. Container volume for the reporting quarter reached 165,000 TEUs, and dry bulk volume stood at 552,000 MT.

"This growth in net profit is bolstered by a robust rise in revenue and a healthy EBITDA margin. We've also witnessed impressive growth in Ro-Ro and liquid cargo volume. Looking ahead, we remain optimistic about the opportunities in the Indian ports sector," said Girish Aggarwal, Managing Director of APM Terminals Pipavav.

Aggarwal noted that the port's investments in technology and infrastructure upgrades are beginning to yield tangible benefits, enhancing operational efficiency and customer service. He emphasized the importance of sustainability initiatives as a key differentiator in the long term.

"As we navigate the evolving global trade landscape, APM Terminals Pipavav is well-positioned to capitalize on India's growing role in international commerce. We remain committed to supporting our customers, contributing to the local economy, and creating long-term value for all our stakeholders," Aggarwal added.

Real Estate

05 Sep 2025

Vitizen Hotels Signs Deal at Manyata Tech Park

Vikram Kamats Hospitality, as part of its ongoing expansion in key metropolitan markets, announced that its material subsidiary, Vitizen Hotels, has signed a long-term lease agreement for a 45-key hotel property at Manyata Tech Park, Bengaluru.Strategically located in the city’s prominent IT hub, the property is well-positioned to serve corporate travelers, business professionals, and long-stay guests. The addition aligns with the company’s asset-light growth model, leveraging long-term leases to expand its footprint in high-demand urban markets.The hotel is expected to strengthen the comp..

CONCOR Signs MoU with BPIPL to Operate Container Terminal at Bhavnagar Port

Container Corporation of India (CONCOR) has signed a Memorandum of Understanding (MoU) with Bhavnagar Port Infrastructure (BPIPL) on September 4, 2025, in New Delhi to operate and maintain the upcoming container terminal at the northside of Bhavnagar Port, Gujarat.BPIPL had earlier entered into an agreement with the Gujarat Maritime Board (GMB) in September 2024 for the port’s development. Under this arrangement, 235 hectares of land has been leased to BPIPL for 30 years, with provision for expansion by an additional 250 hectares.The new terminal is expected to significantly enhance logistic..

Concord Launches India’s First Indigenous Zero-Emission Rail Propulsion

Concord Control Systems (CCSL), a leader in embedded electronics and critical rail technologies, has announced the development of India’s first fully indigenous zero-emission propulsion system, marking a significant step toward the country’s railway electrification and net-zero goals for 2030.Powered by Lithium Iron Phosphate (LFP) batteries and featuring a DC chopper-based drive, the propulsion system eliminates idling losses common in diesel engines, offering higher efficiency, lower costs, and zero emissions.What sets this innovation apart is its completely indigenous design. Except for..