Gujarat Pipavav Port soars after robust Q3 numbers

Gujarat Pipavav Port surged 10.14% to Rs 52.70 at 10:03 IST on BSE after net profit surged 439% to Rs 44.10 crore on 36% jump in income from operations to Rs 118 crore in Q3 September 2013 over Q3 September 2012.

The result was announced after market hours on Tuesday, 23 October 2013.

Meanwhile, the BSE Sensex was down 65.66 points, or 0.31%, to 20,799.31.

On BSE, 2.51 lakh shares were traded in the counter compared with average volume of 63,361 shares in the past one quarter.

The stock hit a high of Rs 53.80 and a low of Rs 51 so far during the day. The stock hit a 52-week high of Rs 54 on 6 May 2013. The stock hit a record low of Rs 41 on 12 February 2013.

The stock had outperformed the market over the past one month till 22 October 2013, rising 6.45% compared with the Sensex's 2.97% rise. The scrip had, however, underperformed the market in past one quarter, rising 0.63% as against Sensex's 3.50% rise.

The small-cap company has an equity capital of Rs 483.44 crore. Face value per share is Rs 10.

EBITDA (Earnings Before Interest Taxes Depreciation and Amortization) jumped 82% to Rs 61.40 crore in Q3 September 2013 over Q3 September 2012. EBITDA margin increased to 48.6% in Q3 September 2013 compared with 35.7% in Q3 September 2012.

Gujarat Pipavav Port provides facilities for handling both container and bulk cargo.

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