APM Terminals Pipavav Sees 32% Drop in Q4 Profit Despite Annual Growth

APM Terminals Pipavav reported a 32.35% decline in consolidated net profit to Rs 65.83 crore for Q4 March 2024, compared to Rs 97.32 crore a year ago. However, the company's annual net profit grew by 9.21% to Rs 342 crore. Revenue from operations stood at Rs 270.76 crore for Q4.

APM Terminals Pipavav (Gujarat Pipavav Port Ltd) on Wednesday reported a 32.35 per cent decline in consolidated net profit to Rs 65.83 crore for the fourth quarter ended March 2024.

The company had reported a profit of Rs 97.32 crore a year ago, it said in a regulatory filing.

Its revenue from operations for the fourth quarter stood at Rs 270.76 crore against Rs 250.07 crore in the year-ago period.

For the financial year ended March 2024, the company reported a net profit of Rs 342 crore, a growth of 9.21 per cent compared to Rs 313.14 crore in FY23.

APM Terminals Pipavav is one of India's leading gateway ports for containers, dry bulk cargoes, liquid bulk, and RoRo, with connectivity to India's northwest hinterland through rail and road networks.

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