APM Terminals Pipavav's Q4 net profit increases 10% to Rs 72 crore

APM Terminals Pipavav (Gujarat Pipavav Port Ltd) on Thursday reported a 10 per cent rise in net profit at Rs 72.4 crore for the quarter ended March 31, 2022.

The private port operator had recorded a net profit of Rs 65.4 crore in the corresponding quarter of fiscal year ended March 2021, according to a company statement.

Revenue from operations in the quarter under review stood at Rs 220.07 crore, a growth of 13 per cent, over Rs 193.4 crore clocked during the March quarter of FY 2020-21, it said.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) for Q4FY22 was at Rs 129 crore, up 12 per cent, as compared to Rs 115.6 crore in the same period of FY21, it stated.

The net profit for the full-fiscal 2021-22, however, declined 11 per cent to Rs 193.6 crore against Rs 218.10 crore in FY21.

Revenue from operations during the year stood at Rs 743.5 crore, logging a 1 per cent growth over FY21.

The container cargo business for the year stood at 628,000 TEUs, while the bulk business was 4.19-million MT, it said.

The liquid business from the port was recorded at 0.81-million MT, the release said, adding that during the period the port also handled 23,874 cars under the RoRo category.

RoRo is short for 'Roll-on, Roll-off', which describes how products are loaded and discharged from a vessel.

It also said that the APM Terminals Pipavav became the first Indian port connected to the Dedicated Freight Corridor (DFC), the country's high-speed and high-capacity railway corridor dedicated exclusively for freight movement.

Besides, the Port also secured new services, expanding its footprint in the global markets and the port handled 77 export double stack trains originating from the North West hinterland of India in March 2022, which is the highest ever inward trains managed at the port in a month.