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Gujarat Pipavav Port's EBITDA rose 45% in the June quarter as container volumes benefited from additional transshipment traffic, offsetting weakness in bulk and liquid cargo.
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Gujarat Pipavav Port Ltd. reported a 41.8% year-on-year increase in net profit for the June quarter, helped by higher revenue and improved operating margins.
The company, which develops and operates Pipavav Port, posted a net profit of ₹147.9 crore, compared with ₹104.3 crore in the year-ago period.
Revenue rose 32.6% to ₹331.7 crore from ₹250.1 crore a year earlier.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) increased 45.3% to ₹214 crore from ₹147.2 crore. EBITDA margin expanded to 64.49% from 58.86% in the corresponding quarter last year.
The company said the West Asia conflict affected operations during the first quarter of FY27. Container volumes benefited from additional transshipment traffic, while bulk cargo volumes were hurt by lower mineral imports. Liquid cargo volumes were affected by lower imports of LPG and fuel oil.
Roll-on/roll-off (RoRo) exports increased during the quarter, driven by automobile manufacturers, the company said.
Board update
Monica Widhani ceased to be an independent director of Gujarat Pipavav Port effective August 12 following the completion of her five-year tenure.
The company's board had earlier approved the appointment of Harjeet Kaur Joshi as an independent director, effective July 1.
Shares of Gujarat Pipavav Port closed 1.59% higher at ₹150.49 on August 12, ahead of the earnings announcement.
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