APM Terminals Pipavav standalone net profit rises 52% to INR 1,071.32 million in Q2FY24 (INR 707.13 million Q2FY23)

Pipavav, India 15th November 2023 : APM Terminals Pipavav (Gujarat Pipavav Port Ltd), one of the leading gateway ports in Western India reported 52% rise in net profit at INR 1,071.32 million for the second quarter ended on 30^th September 2023, compared to INR 707.13 million in the corresponding period of last year.

Revenue from operations for the second quarter under consideration stood at INR 2,526.06 million as against INR 2,264.12 million in the corresponding period of last year. EBITDA for the quarter is at INR 1,506.44 million as against INR 1,201.70 million in Q2FY23. EBIDTA margin stood at 60% in Q2FY24 as against 53% in Q2FY23.

The container volume grew 16% to 2,16,000 TEUs; dry bulk volume fell 41% to 0.78 million MT; liquid volume grew 52 % to 0.32 million MT and volume under Ro-Ro grew 139% to 20,000 units against 8,000 units in the corresponding period of last year. Container trains handled during the quarter rose 27% to 631 from 495 in Q2 FY23