APM Terminals Pipavav (Gujarat Pipavav Port Ltd), one of the leading gateway ports in Western India reported a 31% rise in consolidated net profit.
As per an official release from the company, the net profit stood at INR 981.34 million for the fourth quarter of the year ended March 31, 2023, compared to INR 750.89 million in the corresponding period of last year.
Revenue from operations for the fourth quarter under consideration stood at INR 2,347.28 million as against INR 2,196.74 million in the corresponding period of last year. EBITDA for the quarter was INR 1,299.44 million as against INR 1,279.85 million in Q4FY22. EBITDA margin stood at 55.36% in Q4FY23 as against 58.25% in Q4FY22.
For the financial year ended March 31, 2023, the Company reported a net profit of INR 3,138.15 million, a growth of 59% compared to INR 1,976.85 million in FY22. Revenue for the fiscal year stood at INR 9,169.50 million as against INR 7,413.65 million last year.
The container cargo business for the quarter stood at 199,000 TEUs, showing a robust growth of 22% YoY.
Dry bulk volume was 0.69 Mln MT; liquid volume handled was 0.28 Mln MT; while 14,900 units were handled under the RoRo category. The Port handled 489 container trains during the quarter as against 469 handled in Q4FY22. For the full year, the container cargo business grew 22% to 764,000 TEUs.
