New Delhi, June 9 (PTI) Gujarat Pipavav Port (APM Terminals Pipavav) on Tuesday reported a 6.7 per cent decline in net profit at Rs 47.2 crore for the quarter ended March 31, 2020.

The port had clocked a net profit of Rs 50.6 crore in the fourth quarter of fiscal 2018-19, it said in a regulatory filing to the BSE.

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Operating income declined by 10 per cent during the quarter under review to Rs 161.9 crore as against Rs 180.1 crore in the year-ago period.

Total expenses declined 24 per cent to Rs 61.5 crore as against Rs 80.6 crore in the year-ago quarter.

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However, the company posted a 42 per cent rise in net profit at Rs 291.1 crore for fiscal year 2019-20.

APM Terminals Pipavav is located in Gujarat, 152 nautical miles from Nhava Sheva in Mumbai.

It currently has a capacity to handle up to 1.35 million TEUs of containers, 4 to 5 million tonnes of dry bulk cargo, 2 million tonnes of liquid cargo and about 2,50,000 cars per year.

(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)