Gujarat Pipavav Port Q1 net profit down 12pc to Rs 48 cr

Total expenses declined to Rs 98.30 crore as against Rs 108.49 crore in the year-ago quarter. APM Terminals Pipavav is located in Gujarat, 152 nautical miles from Nhava Sheva in Mumbai.

Gujarat Pipavav Port (APM Terminals Pipavav) on Thursday reported a 12.47 per cent decline in its consolidated net profit at Rs 48.15 crore for the quarter ended June. The port had clocked a net profit of Rs 55.01 crore for the first quarter of fiscal 2018-19, it said in a BSE filing.

Total income declined to Rs 170.05 crore during the quarter under review as against Rs 189.95 crore in the year-ago period. Total expenses declined to Rs 98.30 crore as against Rs 108.49 crore in the year-ago quarter.

APM Terminals Pipavav is located in Gujarat, 152 nautical miles from Nhava Sheva in Mumbai. It currently has a capacity to handle about 1.35 million TEUs (twenty foot equivalent units) 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.