 "Container port")
The private port operator had posted a consolidated net profit of Rs 67.8 crore in the first quarter of FY24. | Image: Shutterstock
APM Terminals Pipavav on Wednesday reported a 62 per cent growth in the consolidated net profit to Rs 109.67 crore in the June quarter over the corresponding quarter last fiscal, the company said.
The private port operator had posted a consolidated net profit of Rs 67.8 crore in the first quarter of FY24.
Revenue from operations for the quarter stood at Rs 245.97 crore, which is 14 per cent higher compared to Rs 214.9-crore last year, the port operator said.
Consolidated Ebitda (earnings before interest, tax, depreciation and amortisation) was recorded at Rs 149.53 crore, growing by 41 per cent year-on-year from Rs 105.84 crore in Q1 FY23-24, it stated.
According to the port operator, liquid volume grew 31.80 per cent to 345,000 MT and volume under Ro-Ro (services) grew to 39,000 units against 14,000 units in the corresponding period of last year.
The container volume during the reporting quarter was 165,000 TEUs while the dry bulk volume stood at 552,000 MT, it said.
“This (net profit) growth 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, APM Terminals Pipavav.
He said that the Port’s investments in technology and infrastructure upgrades are beginning to yield tangible benefits, enhancing its operational efficiency and customer service, and added that “we are also making significant strides in our sustainability initiatives, which we believe will be 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,” Mahajan added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Aug 07 2024 | 10:22 PM IST
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