PIPAVAV : APM Terminals Pipavav (Gujarat Pipavav Port Ltd), one of the leading gateway ports in Western India reported 80% jump in consolidated net profit INR 593.4 million for Q1FY23 compared to INR 327.7 million in Q1FY22. Revenue from operations for the quarter under consideration stood at INR 2081.3 million as against INR 1,596.2 million in the corresponding period of last year. EBITDA for the quarter was at INR 1,132.3 million compared to INR 879.3 million during the same quarter last year. EBIDTA margin stood at 54.4% in Q1FY23 as against 55.1% in Q1FY22.
Commenting on the results, Mr. Jakob Friis Sørensen, MD, Gujarat Pipavav Port Ltd said, “With economies around the world opening up and businesses normalizing, the growth in cargo business has led to good performance this quarter. However, the slowdown in global supply chain is still a concern. I am thankful to all our stakeholders and customers for their trust in us and we continue to offer them the best services possible.”
The container cargo business for the quarter stood at 187 TEUs, showing a robust growth of 24.6% YoY and 14.7% QoQ. Dry bulk volume was 0.93 million MT, up 40.9% YoY; liquid volume handled was 0.20 million MT, up 42.8% YoY. 6,000 units were handled under RoRo category as against 2,000 units in Q1FY22.