Gujarat Pipavav Port shares rise over 7% as Q1 net profit jumps 62%; check details

Shares of the company hit a high of ₹237.79 apiece, up by 7.39%, on the NSE in morning trade following the announcement of Q1 results. However, the stock pared some gains to trade 4.3% higher at ₹231 apiece at around 12:15 pm.

According to the exchange filing, consolidated net profit of the company jumped nearly 62% to ₹109.67 crore in the June quarter of FY25 compared to ₹67.82 crore in the same quarter of the last year. The company had reported a net profit of ₹65.83 crore in the previous March quarter of FY24.

The EBITDA rose by 41% to ₹149.5 crore in the June quarter over the year-ago period. The EBITDA margin was 61%.

Consolidated revenue from operations rose by 14% to ₹246 crore in the April-June quarter of FY25 compared to ₹215 crore in the first quarter of FY24. Revenue was ₹251.27 crore in the March quarter of FY24.

The company operates a port in Gujarat, just 152 nautical miles from Nhava Sheva in Mumbai, with infrastructure for handling container, bulk, liquid bulk and RORO cargo.

The port operator stated that it witnessed strong growth in RO-RO and liquid cargo volume. Liquid volume grew 31.80 per cent to 345,000 MT in the June quarter compared to the year-ago period.

Volume under Ro-Ro services grew by 135% to 39,000 units in the first quarter against 14,000 units in the same period of last year.

Container volume during the reporting quarter dropped 17% to 165,000 TEUs compared to the last year. The dry bulk volume also declined by 18% to 552,000 MT. The company informed the bourses that it remains optimistic about the opportunities in the Indian ports sector.