Gujarat Pipavav Port announced that its handled cargo volume in container terms decreased to 177 thousand TEUs for Q3 FY25 from 203 thousand TEUs recorded in Q3 FY24, down 12.81%.
While the company's dry bulk cargo volume declined 4% YoY to 0.72 million MT, liquid cargo volume rose 21.88% YoY to 0.39 million MT in the third quarter. The cargo volume of roll-on/roll-off ships zoomed to 44,000 units in Q3 FY25 registering a growth of 51.72% on YoY basis.During the period under review, the company handled 496 container trains (down 15.79% YoY) and the containers handled on train were 112 thousand TEUs (down 17.04% YoY).
Gujarat Pipavav Port has been operating the Pipavav port in Saurashtra, Gujarat, since 1998. It has exclusive rights to develop and operate facilities of APM Terminals in Pipavav until September 2028, according to a concession agreement with Gujarat Maritime Board and the government of Gujarat. The company handles four cargo types: container, dry bulk, liquid bulk, and RoRo.
The companys consolidated net profit fell 18.19% to Rs 75.48 crore on 10.12% declined in revenue from operations to Rs 227.04 crore in Q2 FY25 over Q2 FY24.
The scrip declined 0.30% to currently trade at Rs 183.60 on the BSE.
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