Gujarat Pipavav Port Q4 results: Net profit down 7 per cent to Rs 47.2 crore

New Delhi: Gujarat Pipavav Port (APM Terminals Pipavav) on Tuesday reported a 6.7 per cent decline in net profit at Rs 47.2 crore for the quarter ended March 31, 2020.

The port had clocked a net profit of Rs 50.6 crore in the fourth quarter of fiscal 2018-19, it said in a regulatory filing to the BSE.

Operating income declined by 10 per cent during the quarter under review to Rs 161.9 crore as against Rs 180.1 crore in the year-ago period.

Total expenses declined 24 per cent to Rs 61.5 crore as against Rs 80.6 crore in the year-ago quarter.

However, the company posted a 42 per cent rise in net profit at Rs 291.1 crore for fiscal year 2019-20.

APM Terminals Pipavav is located in Gujarat, 152 nautical miles from Nhava Sheva in Mumbai.

It currently has a capacity to handle up to 1.35 million TEUs of containers, 4 to 5 million tonnes of dry bulk cargo, 2 million tonnes of liquid cargo and about 2,50,000 cars per year.