APM Terminals Pipavav, erstwhile Gujarat Pipavav Port, today reported a 72.3 per cent jump in its net profit at Rs 61 crore for the first quarter ended March 31, 2014.
The company had posted a net profit of Rs 35.4 crore in the corresponding quarter last year (2013), Gujarat Pipavav Port said in a statement.
Net Sales for the first quarter ended March 31, 2014 stood at Rs 156.2 crore as against Rs 124.5 crore for the corresponding quarter last year.
The company said that there has been 16 per cent increase in volume of container cargo, organic growth and additional services as against the same period in 2013.
"The strong numbers testify to APM Terminals Pipavav's impeccable operational efficiencies and connectivity, underscoring - the value we offer our clients and their consistent support in return," APM Terminals Pipavav Managing Director Prakash Tulsiani said in the statement.
APM Terminals Mauritius Limited, which picked up Gujarat Maritime Board's stake in Gujarat Pipavav Port, is the largest shareholder in APM Terminals Pipavav.
APM Terminals Pipavav is part of an international network of 71 ports and terminals across 67 countries operated by APM Terminals BV an independent business unit within the Maersk Group - with interests in Shipping, Oil and Drilling.
