APM Terminals Pipavav consolidated net profit rises 14% to INR 678.26 million in Q1FY24 (INR 593.39 million Q1FY23)

APM Terminals Pipavav consolidated net profit rises 14% to INR 678.26 million in Q1FY24 (INR 593.39 million Q1FY23)

Pipavav, India: APM Terminals Pipavav (Gujarat Pipavav Port Ltd), one of the leading gateway ports in Western India reported 14% rise in consolidated net profit at INR 678.26 million for the first quarter ended on 30th June 2023, compared to INR 593.39 million in the corresponding period of last year.

Revenue from operations for the first quarter under consideration stood at INR 2,149.18 million as against INR 2,065.53 million in the corresponding period of last year. EBITDA for the quarter is at INR 1,058.42 million as against INR 1,116.43 million in Q1FY23. EBIDTA margin stood at 49.25% in Q1FY24 as against 54.05% in Q1FY23.

The container volume grew 7% to 199,000 TEUs; dry bulk volume fell 28% to 0.67 million MT; liquid volume grew 29% to 0.26 million MT and volume under Ro-Ro grew 118% to 14,000 units against 6,000 units in the corresponding period of last year. Container trains handled during the quarter rose 10.6% to 523 from 473 in Q1 FY23