APM Terminals Pipavav Q1 Net Zooms 60%
APM Terminals Pipavav’s (Gujarat Pipavav Port Ltd) today posted a 60 per cent rise in standalone net profit to INR 59.75 crore for the first quarter ended June 30, 2016 on the back of lower expenses. The company had posted a net profit after tax of INR 37.23 crore for the same period a year-ago.
Profit from operations for the quarter under consideration stood at INR 75.1 crore as against INR 74.6 crore in Q1FY16. EBIDTA for the quarter was at INR 100.2 crores and EBIDTA margin stood at 60%.
The Container cargo business for the quarter stood at appx. 172k TEUs, Bulk business was at 600k MT and Liquid business was at appx. 128k MT. RoRo business was appx. 11k units for the quarter under review.
Commenting on the results, APM Terminals Pipavav (Gujarat Pipavav Port Ltd), Managing Director, Mr. Keld Pedersen said:
“The business environment remained challenging in the quarter gone by. However, better utilisation of resource and efficiency has fared well for the company. The shareholders have approved the payment of the maiden dividend of Rs.1.90 per equity share, in the Annual General Meeting held today.”