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APM Terminals Pipavav Announces Financial Performance for Q2FY19

Mumbai:

Port Wings News Network:

APM Terminals Pipavav (Gujarat Pipavav Port Ltd) on 24 October 2019 announced the financial results for the quarter ended September 30, 2019.

The company reported a net profit of INR 671 million for Q2FY20 as against INR 552 million in Q2FY19. Revenue from operations for the quarter under consideration stood at INR 1,992 million as against INR 1,711 million in Q2FY19.

EBIDTA for the quarter was at INR 1,267 million as against INR 975 million during the same quarter last year. EBIDTA margin stood at 64% in Q2FY20 as against 57% in Q2FY19.

The container cargo business for the quarter stood at appx. 224K TEUs, Bulk business was at 674K MT and Liquid business was at appx. 235K MT, RoRo business handled appx. 20K cars for the quarter under review.

The Board Members during their meeting today, announced appointment of Mr. Jakob Friis Sorensen as the Managing Director of APM Terminals Pipavav effective from 1st January, 2020.

APM Terminals Pipavav [Gujarat Pipavav Port Ltd.] is one of India’s leading gateway port for Containers, Ro/Ro (passenger cars), Liquid Bulk and Dry Bulk cargoes serving customers in the state of Gujarat with road and rail networks to India’s hinterland and northwest. The current annual Cargo Handling Capacity includes 1.35 million TEU Containers, 250,000 Passenger cars, 2 million metric tons of Liquid bulk and 4 million metric tons of Dry bulk. APM Terminals Pipavav is India’s first public private partnership (PPP) port in India and is a part of the APM Terminals global terminal network.

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