Gujarat Pipavav Port Q4 net more than doubles to Rs 77 cr

Gujarat Pipavav Port today posted over two-fold jump in its December quarter net profit at Rs 77.1 crore.
The company, which follows the calendar year for auditing, had posted net profit of Rs 36 crore in the fourth quarter last year.
Gujarat Pipavav Port's total income rose 22 per cent to Rs 145.2 crore in the quarter under review as against Rs 118.8 crore a year ago.
Total expenditure stayed almost flat at Rs 61.7 crore.
Earnings before tax, depreciation and interest computation were up 47 per cent to Rs 83.5 crore, it said, adding during the reporting quarter, there was a Rs 16.4 crore write-back of impairment net of depreciation/write-offs.

For the reporting quarter, there was a 24 per cent increase in volume handled by the company due to the additional services it offered and normal organic growth. It handled 1.93 lakh standard units of container traffic during the quarter, which is the highest ever in a quarter, it said.
The company scrip gained 11.12 per cent to close at Rs 70.95 a piece on the BSE, whose 30-share benchmark closed with gains of 0.83 per cent today.