Date: 13/02/2024

APM Terminals Pipavav’s standalone net profit rises 39%

APM Terminals Pipavav (Gujarat Pipavav Port Ltd), one of the leading gateway ports in Western India, reported 39% rise in net profit at INR 1,102.76 million for the third quarter ended December 31, 2023 compared to INR 793.46 million in the corresponding period of last year. 
Revenue from operations for the third quarter under consideration stood at INR 2,696.30 million as against INR 2,492.57 million in the corresponding period of last year. EBITDA for the quarter is at INR 1,593.05 million as against INR 1,403.84 million in Q3FY23. EBIDTA margin stood at 59% in Q3FY24 as against 56% in Q3FY23.
For the nine months ended December 31, 2023, the company reported net profit of INR 2,833.20 million, a growth of 36% compared to INR 2,075.84 million in 9M FY23. Revenue for 9M FY24 stood at INR 7,371.54 million as against INR 6,822.21 million in 9M FY23.
The container cargo business for the quarter stood at 2,04,000 TEUs, showing a robust growth of 6% YoY. Dry bulk volume was 0.76 million MT; liquid volume handled was 0.32 million MT; while 29,000 units were handled under RoRo category. The port handled 589 container trains during the quarter as against 464 handled in Q3FY23. For the nine months, container cargo business grew 10% to 6,20,000 TEUs, highlighted a release.
Source: Exim News Service: Pipavav, Feb. 12