APM Terminals' Q3 profits surge by 39%

APM Terminals Pipavav, a private port operator, announced a 39% increase in its consolidated net profit for the third quarter of FY 2024. There was a net profit of Rs 1.10 billion in the quarter, compared to Rs 790.34 million in the corresponding period of the previous year. The revenue from operations for the quarter was Rs 2.69 billion, showing a growth from Rs 2.49 billion in the same period last year. The container cargo business witnessed a rise, reaching 2.04 lakh Twenty-foot equivalents (TEUs), marking a 6% increase year on year. During the quarter, APM Terminals managed 589 container trains and 29,000 units under the RoRo category. The handling of dry bulk volume amounted to 0.76 million MT, while the liquid bulk volume was 0.32 million MT.