 "Gujarat Pipavav Port nears 52-week high; stock surges 18% in one month")
Shares of Gujarat Pipavav Port (GPPL) were up 4 per cent to Rs 108.85 on the BSE in Wednesday's intra-day trade. The stock was trading close to its 52-week high level of Rs 109.35, touched on December 30, 2022.
In the past one month, the stock outperformed the market by surging 18 per cent after reported a strong 89 per cent year-on-year (YoY) jump in its consolidated net profit at Rs 84.36 crore in the December quarter (Q3FY23). The company had posted net profit of Rs 44.60 crore in the year-ago quarter (Q3FY22). Revenue from operations grew 48.6 per cent to Rs 250.5 crore from Rs 168.56 crore in Q3FY22.
The company's earnings before interest, taxes, depreciation, and amortization (ebitda) rose 63.4 per cent YoY to Rs 141.7 crore. Margin improved to 56.6 per cent from 51.5 per cent in the year-ago quarter.
Gujarat Pipavav is a South-West Gujarat based port with an MNC promoter (APM Terminals – Maersk Group). It lies at a strategic international maritime location, which connects India with the Far East, on the one side, and Middle East, Africa, Europe and the US, on the other.
In the past one month, the stock outperformed the market by surging 18 per cent after reported a strong 89 per cent year-on-year (YoY) jump in its consolidated net profit at Rs 84.36 crore in the December quarter (Q3FY23). The company had posted net profit of Rs 44.60 crore in the year-ago quarter (Q3FY22). Revenue from operations grew 48.6 per cent to Rs 250.5 crore from Rs 168.56 crore in Q3FY22.
The company's earnings before interest, taxes, depreciation, and amortization (ebitda) rose 63.4 per cent YoY to Rs 141.7 crore. Margin improved to 56.6 per cent from 51.5 per cent in the year-ago quarter.
Gujarat Pipavav is a South-West Gujarat based port with an MNC promoter (APM Terminals – Maersk Group). It lies at a strategic international maritime location, which connects India with the Far East, on the one side, and Middle East, Africa, Europe and the US, on the other.
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