At the end of the second quarter, which ended on September 30, Gujarat Pipavav Port Ltd (GPPL), which runs the Pipavav port in Gujarat, had an 18% decrease in its consolidated net profit, which came to ₹75.5 crore.
The company’s consolidated net profit for the same period previous year was ₹92.3 crore. From ₹252 crore in Q2FY24 to ₹227 crore in the second quarter of this fiscal year, revenue from operations decreased by 10%.
RoRo volumes at the port increased by 73% during the reviewed quarter, according to the October operating statement given to the exchanges. Between July and September, Pipavav handled 33,000 RoRo units, up from 19,000 units in the same period the previous year.
The port saw a 17% drop in container cargo volumes during the second quarter of current fiscal year, handling 1,79,000 TEUs (twenty-foot equivalent units) of containers. Volumes of dry bulk freight also decreased by 40%, but volumes of liquid cargo rose by 6.5%. Additionally, 515 container trains carrying 1,18,000 TEUs of containers passed through the port.
The Board of the firm announced an interim dividend of ₹4 per share for this fiscal year. Additionally, on December 1, the Board named Clint Carmichael the company’s Chief Operating Officer for a three-year term.
