APM Terminals Pipavav Reports 62% Surge in Q1 Net Profit
PORTS & SHIPPING

APM Terminals Pipavav Reports 62% Surge in Q1 Net Profit

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.

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.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code