Port Wings News Network:
APM Terminals Pipavav (Gujarat Pipavav Port Ltd), on 17 May announced the standalone financial results for the quarter and full year ended March 31, 2018.
For the fourth quarter ended March 2018, the company reported a net profit of INR 486 million for Q4FY18 as against INR 662 million in Q4FY17. Total Income for the quarter under consideration stood at INR 1,655 million as against INR 1,746 million in Q4FY17. EBIDTA for the quarter was at INR 930 million and EBIDTA margin stood at 56%.
The Container cargo business for the quarter stood at (appx.) 205k TEUs, Bulk business at (appx.) 266k MT and Liquid business at (appx.) 210k MT. RoRo business at (appx.) 23k units for the quarter under review.
For the full year ended March 2018, the company reported a net profit of INR 1,985 million. Total Income from operations for FY18 stood at INR 6,489 million. EBIDTA for FY18 was at INR 3,741 million and EBIDTA margin stood at 58%.
For FY18, the Container cargo business was 703k TEUs, Bulk business was 1.82 million MT, Liquid business was appx 1.02 million MT and RoRo business was appx. 98k units. The board recommends a dividend of 17% (Rs 1.7 per share) for FY 18.
Commenting on the results, APM Terminals Pipavav (Gujarat Pipavav Port Ltd), Managing Director, Mr. Keld Pedersen said: “The container volume grew by 19% in Q4FY18 compared to the previous quarter on account of new line additions. On the west coast, the company registered a record growth rate in container volumes of 29% in Q42018 compared to the same quarter last year. We are grateful to our customers for their sustained support”.
Business highlights and developments at APM Terminals Pipavav in FY 18:
- Added Maersk FM3 service at the Port
- Added Cl1 service operated by COSCO and Wanhai.
- Hosted ‘Adrian Maersk’, the longest ship with overall length of 353 meters at the port