Mumbai, July 25, 2014: Gujarat Pipavav Port Ltd. (APM Terminals Pipavav), one of western India’s fastest growing gateway ports, today reported a whopping 128% jump in net profit for the second quarter ended June 30th, 2014, boosted by impressive container cargo volumes.
The operating income for the first quarter ended 30th June 2014 stood at Rs. 1,683 million as against Rs. 1,220 million for the corresponding quarter last year; up 38%. Net profit rose 128% to Rs. 805 million as against Rs. 352 million in the corresponding quarter last year.
EBIDTA for the quarter was up 80% at Rs.989 million and EBIDTA margin stood at 59% as against 45% reported in Q2CY13.
- Volume growth
|Period||Container cargo (‘000 TEUs)||Bulk cargo
|YoY growth (%)||42%||-19%||29%|
|QoQ growth (%)||8%||19%||4%|
- Key developments during the quarter
Container Cargo – Best ever quarter
- 8% increase in volume vs. Q1CY14: Organic growth, New service added
- 42% increase in volume vs. Q2CY13: 2 new services; 1 upsized; Organic growth
- 66% ICD throughput : Highest ever quarterly ICD throughput of 132,797 TEUs
Bulk & General Cargo
- 19% increase in volume vs. Q1CY14: Higher coal, fertilizer & wheat
- 19% decrease in volume vs. Q2CY13: Lower minerals partly offset by wheat
Commenting on the quarterly results APM Terminals Pipavav Managing Director, Mr. Prakash Tulsiani said: “The operational efficiencies and superior hinterland connectivity to fulfill the needs of our clients has rewarded us with these growth numbers. Despite seasonality in the business and the fact that April-June period is supposed to be a lean quarter for us, we have witnessed better than expected volume growth and realization.”
About APM Terminals Pipavav
APM Terminals Pipavav is part of an international network of 71 ports and terminals across 67 countries operated by APM Terminals BV an independent business unit within the Maersk Group – with interests in Shipping, Oil and Drilling.
Strategically located in Gujarat State, approximately 152 nautical miles North West from the city of Mumbai, APM Terminals Pipavav is one of Western India’s fastest growing gateway ports with excellent connectivity to the rich hinterlands in the North and North West Regions of India. APM Terminals Pipavav, the first Public Private Partnership (PPP) Port in India and has emerged as an important gateway port on the West Coast for containers, bulk and liquid cargo.