APM Terminals Pipavav consolidated profit rises 14% to Rs 68 cr in Q1

APM Terminals Pipavav on Wednesday reported a 14 per cent growth in consolidated net profit to Rs 67.82 crore for the June quarter.

The company had posted a consolidated net profit of Rs 59.33 crore in the year-ago period, APM Terminals Pipavav, earlier known as Gujarat Pipavav Port Ltd, said in a statement.

Revenue from operations for the first quarter of the ongoing fiscal was Rs 214.91 crore as against Rs 206.55 crore a year ago, it said.

Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) for the June quarter was Rs 105.84 crore as against Rs 111.64 crore a year back, the private port operator said.

The container volume during the quarter grew 7 per cent to 1,99,000 Twenty-Foot Equivalent Units (TEUs), while the dry bulk volume fell 28 per cent to 0.67 million MT.

The liquid volume was up 29 per cent at 0.26 million MT in the quarter under review while volume under Roll-on-Roll-off (Ro-Ro) surged 118 per cent to 14,000 units against 6,000 units a year ago, APM Terminals Pipavav said.

The port also handled 10.06 per cent more container trains at 523 during the quarter compared to 473 a year ago.