 "Gujarat Pipavav Port plunges over 10% on weak Q2 results")
Gujarat Pipavav Port has plunged 12% to Rs 159 on the BSE after the company reported 41% year on year (YoY) drop in net profit at Rs 53 crore for the quarter ended September 30, 2015 (Q2), due to lower operating volumes. The company had profit of Rs 90 crore in the same quarter year ago.
Total operational revenues declined by 12% at Rs 149 crore on YoY basis.
Earnings before interest, tax, depreciation and amortization (EBITDA) margin declined over 500 basis points to 51.3% from 56.4%. The company said EBITDA margin impacted by lower container and bulk volume.
Analysts on an average had expected profit of Rs 91 crore on revenues of Rs 182 crore.
At 03:09 pm, the stock was down 11% at Rs 160 on the BSE. A combined 4.17 million shares changed hands on the counter so far against an average sub one million shares that were traded daily in past two weeks on the BSE and NSE.
Total operational revenues declined by 12% at Rs 149 crore on YoY basis.
Earnings before interest, tax, depreciation and amortization (EBITDA) margin declined over 500 basis points to 51.3% from 56.4%. The company said EBITDA margin impacted by lower container and bulk volume.
Analysts on an average had expected profit of Rs 91 crore on revenues of Rs 182 crore.
At 03:09 pm, the stock was down 11% at Rs 160 on the BSE. A combined 4.17 million shares changed hands on the counter so far against an average sub one million shares that were traded daily in past two weeks on the BSE and NSE.
