APM Terminals Pipavav declares its first quarter result

APM Terminals Pipavav (Gujarat Pipavav Port Ltd) reported 13% decline in consolidated net profit at Rs. 481 million for the first quarter ended June 30, 2020. The Company had reported consolidated net profit of Rs. 550 million for the corresponding quarter of last year. Revenues for the first quarter stood at Rs. 1,590 million as against Rs. 1776 million, lower by 10% Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) fell to Rs. 955 million as compared to Rs. 1024 million in Q1FY20.

EBIDTA margin stood at 60% in Q1FY21 as against 58% in Q1FY20; while net profit margin was at 30% during Apr-June quarter as compared to 31% in Q1FY20.

Despite lockdown, the port has set new standards in cargo handling for the quarter under review. From April to June 2020, the port handled 622 container trains against 556 trains last year. The port handled 1,86,000 TEUs (twenty-foot equivalent units) down from 2,21,000 TEUs in Q1FY20. Volume under dry bulk shipments stood at 0.41 Mn MT against 0.51 Mn MT last year. The liquid cargo business was stable at 0.21 Mn MT.

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