Gujarat Pipavav Port Q3CY14 Net Profit up 103% at INR 895 million

pipivavOperating Income up 35% at INR 1,701 million

 

Financial Highlights of Q3 CY14 vs. Q3 CY13

  • Operating Income at INR 1,701 million vs. INR 1,262 million, up 35%
  • EBITDA at INR 959 million vs. INR 614 million, up 56%
  • EBITDA margin at 56.4% vs. 48.6%
  • PAT at INR 895 million vs. INR 441million, up 103%

Business Highlights of Q3 CY14 vs. Q3 CY13

  • Container volumes increased 19% to 193,867 TEUs
  • Bulk volumes jumped3% to 1.01 million MT
  • Commenced liquid cargo operations during the quarter

Mumbai, November 04, 2014: Gujarat Pipavav Port Ltd. (APM Terminals Pipavav), one of western India’s fastest growing gateway ports, today reported a whopping 103% jump in net profit for the third quarter ended 30th September 2014, as against INR 441 million in the corresponding quarter last year boosted by good container cargo volumes and steady pick-up in bulk cargo volumes.

 

Income for the third quarter ended 30th September 2014 stood at INR 1,701 million as against INR 1,262 million for the corresponding quarter last year; up 35%. EBIDTA for the quarter was up 56% at INR 959 million and EBIDTA margin stood at 56.4% as against 48.6% reported in Q3 CY13.

 

Business Highlights

 

                                                                  Volume growth

 

Period Container cargo (‘000 TEUs) Bulk cargo (mn MT) Rail volume (‘000 TEUs)
Q3 CY14 194 1.01 140
Q3 CY 13 163 0.99 116
         YoY growth (%) 19% 3% 21%
Q2 CY14 203 0.82 133
        QoQ growth (%) -4% 23% 5%

 

 

Key developments during the quarter

 

Container Cargo

  • Organic growth,  New services added, Upsized existing services compared to Q3 2013
  • Lower exports compared to Q2 2014
  • 72% ICD throughput

Bulk & General Cargo

  • Higher  coal & fertilizer

Liquid Cargo

  • Non LPG liquid cargo commenced in Q3 Y14

 

Commenting on the quarterly results APM Terminals Pipavav Managing Director, Mr. Prakash Tulsiani said: “Our container volumes are in the same range as previous quarter’s on account of lower exports. However, when compared with the Q3 of Y13 the container volumes registered 19% growth which was driven by organic growth, new additions and upsizing of certain services.” 

 

“This quarter new Liquid business commenced; while double-stack rail capability continues to deliver value proposition to our clients.”  he added.

 

 About APM Terminals Pipavav

APM Terminals Pipavav is part of an international network of 63 ports and terminals across 66 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.

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