Gujarat Pipavav Port fell 2.1% to Rs 93.40 after the company's consolidated net profit fell 24% to Rs 44.60 crore in Q3 FY22 from Rs 58.72 crore registered in the same period last year.
Consolidated revenue from operations declined 15% year on year to Rs 168.56 crore in Q3 FY22 from Rs 198.40 crore posted in Q3 FY21. Profit before tax came at Rs 71.57 crore in Q3 FY22, 18.8% lower than Rs 88.1 crore recorded in the corresponding quarter last year.The company reported an exceptional gain of Rs 9.8 crore in the quarter ended December 2021 as interim claim received from insurer for the damage caused at Pipavav port by cyclone Tauktae.
Gujarat Pipavav Port is engaged in providing port handling and marine services for container cargo, bulk cargo, and LPG cargo.
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