APM Terminals Pipavav Project Profit
APM Terminals Pipavav (Gujarat Pipavav Port Ltd) Oct-Dec 15 Net Profit at INR 533 million and Income from Operations at INR 1,521 million
January 28, 2016: APM Terminals Pipavav (Gujarat Pipavav Port Ltd), operating one of western India’s gateway ports, reported a net profit of INR 533 million for the quarter ended 31st December 2015 as against INR 531 million in the previous quarter.
Income from operations for the quarter ended 31st December 2015 stood at INR 1,521 million as against INR 1,404 million for the previous quarter. EBIDTA for the quarter was INR 1,001 million and EBIDTA margin stood at 61 %.
Container cargo business for the quarter stood at 178K TEUs and Bulk business at 0.44 million MT during the quarter under review.
Commenting on the results, APM Terminals Pipavav (Gujarat Pipavav Port Ltd), Managing Director, Mr. Keld Pedersen said, “Financial results for third quarter are better than the previous quarter with the port gaining back the volumes lost during Force Majeure. The headwinds in global trade have impacted the volumes in India. However as we begin the new year, APM Terminal Pipavav is well positioned to take advantage of diversified offering of container, bulk, liquid and RoRo cargo. The addition of three new container cranes and enhanced capacity to 1.35 million TEUs will help reduce turnaround time and increase productivity at the port.”