Gujarat Pipavav Port Q3 profit up over 5-fold at Rs 44.1 cr

Company's total income grew to Rs 126 crore, which is a 34% growth over the same period last year

Gujarat Pipavav Port today reported an over five-fold growth in post tax profit at Rs 44.1 crore for the third quarter ended September 30.

The APM terminals promoted company, which operates by calendar year, had recorded a net profit of Rs 8.2 crore in the corresponding July-September period last year.

The company's total income grew to Rs 126.2 crore, which is a 34% growth over the same period last year, the company said in a statement.

It notched a 30% increase in volume on additional services and upsizing in the container cargo segment, while on the bulk and general cargo front, there was a 31% increase in volumes on higher mineral and coal shipments, it said.

The company scrip gained 1.81% to close at Rs 47.85 a piece on the BSE, whose 30-share benchmark shed 0.14%.