Gujarat Pipavav Port Q3 net plunges 40% to Rs 53 crore

Gujarat Pipavav Port today reported 40.3% decline in standalone net profit at Rs 53.30 crore for the December quarter on the back of lower income.

The company's net profit in the corresponding period of last fiscal was Rs 89.31 crore, Gujarat Pipavav Port said in a regulatory filing.

Total income from operations during the quarter declined to Rs 165.41 crore as against Rs 184.48 crore in the year-ago period, it said.

Gujarat Pipavav Port is managed and operated by APM Terminals, the ports and terminals company of the maritime giant, the A P Moller-Maersk Group.

APM Terminals is a leading container terminal operators in the world and offers the shipping community an integrated global terminal network of 56 ports and 154 inland facilities in 63 countries.