Gujarat Pipavav Port gained 5.64% to Rs 234 after the company's standalone net profit jumped 58.76% to Rs 104.64 crore in Q1 FY25 as compared with Rs 65.91 crore recorded in Q1 FY24.
Revenue from operations grew by 14.45% year on year (YoY) to Rs 245.98 crore in quarter ended 30 June 2024.
Profit before exceptional items and tax stood at Rs 140.39 crore in first quarter of FY25, up 50.6% from Rs 93.22 crore in corresponding quarter last year.
Total expenses declined 9.36% to Rs 127.18 crore in Q1 FY25 over Q1 FY24. Operating expenses stood at Rs 41.67 crore (down 0.67% YoY), employee benefits expense was Rs 20.77 crore (up 4.21% YoY) and finance costs was at Rs 1.69 crore (down 33.2% YoY) during the period under review.
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.
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