APM Terminals Pipavav September quarter Results: Net profit dips 13% to Rs 45.3 crore

APM Terminals Pipavav (Gujarat Pipavav Port Ltd) on Friday reported a 13 per cent year-on-year dip in net profit at Rs 45.3 crore for the quarter ended September 30, 2021.

The private port operator had posted a net profit of Rs 52 crore in Q2FY21, according to a release.

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The revenue from operations rose marginally to Rs 194.7 crore during the quarter under review, as compared to Rs 182.7 crore in the September quarter of the previous fiscal.

EBITDA, or earnings before interest, taxes, depreciation, and amortization, for the quarter was at Rs 109 crore, as against Rs 102.9 crore achieved during the same quarter last year, it said.

The container cargo business for the quarter stood at 157,048 TEUs, while the bulk business was at 1.39 metric tons (MT), it said, adding the liquid business during the quarter was recorded at 0.19 MT.

Besides, as many as 7,814 cars were handled under Roll-on/roll-off (RoRo) category for the quarter under review, it said.

According to the release, during the quarter under review, APM Terminals Pipavav became the first port to be connected to the Western Dedicated Freight Corridor (DFC) with the completion of high-rise overhead electrification of the port rail yard.

By switching to electrical loco, the Port will also be able to offer environment-friendly, long-haul, high-volume freight rail transport that will reduce greenhouse gas emissions, it said, adding the Port also loaded 100th LPG rake in less than a year of installation.