Latest News | APM Terminals Pipavav Q2 Net Jumps 59 Pc to Rs 72 Cr
Get latest articles and stories on Latest News at LatestLY. APM Terminals Pipavav (Gujarat Pipavav Port Ltd) on Wednesday reported a 59 per cent growth in consolidated profit at Rs 72 crore for the quarter ended September.
Mumbai, Nov 9 (PTI) APM Terminals Pipavav (Gujarat Pipavav Port Ltd) on Wednesday reported a 59 per cent growth in consolidated profit at Rs 72 crore for the quarter ended September.
The company had posted a consolidated profit of Rs 45.20 crore in the second quarter of the previous fiscal, according to a company statement.
Revenue from operations stood at Rs 227.30 crore as against Rs 194.70 crore in the year-ago period.
EBITDA for the reporting quarter rose to Rs 121 crore from Rs 109 crore in Q2 FY22, with margin at 53 per cent as against 56 per cent earlier.
The container cargo business for the quarter stood at 187,000 TEUs, showing a robust year-on-year growth of 19 per cent, while dry bulk volume was 1.30 million MT, it said.
Liquid volume handled during the reporting quarter was 0.21 million MT and 8,000 units were handled under RoRo (roll-on, roll-off) category.
Besides, the port handled 495 container trains during the quarter as against 485 in Q2 FY22.
Globally, the logistic industry is going through challenging times owing to the adverse geo-political environment, signs of inflation and global recession, impacting the slowdown in demand, said Jakob Friis Sørensen, MD, Gujarat Pipavav Port Ltd.
"However, we are seeing a slight uptick in our container and bulk volume," he stated.
The port, he said, has resumed the shipment of agri-commodities and export of vehicles, he added.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)