APM Terminals Pipavav FY24 net profit jumps 9%

APM Terminals Pipavav (also known as Gujarat Pipavav Port Ltd), a key gateway port in Western India, witnessed a 9% growth in net profit to INR 3,409.83 million in FY24, up from INR 3,138.15 million in FY23. Revenue for the fiscal year also saw a notable 8% rise, reaching INR 9,884.29 million compared to INR 9,169.50 million in the previous year, according to the official release by APM Terminals Pipavav.

Consolidated EBITDA at INR 5,730.53 million showcased a robust 14% growth compared to INR 5,021.41 million in FY23. The EBITDA margin also improved, standing at 58% in FY24, up from 55% in FY23.

The container cargo business for the year stood at 808,000 TEUs. Dry bulk volume was 2.71 million MT, liquid volume was 1.29 million MT while 97,000 units were handled under the RoRo category. The Port handled 2286 container trains during the year as against 1921 handled in FY23. For the full year, the container cargo business grew 6% to 808,000 TEUs, the release added.

“Our commitment to operational excellence has translated into a significant 9% increase in consolidated net profit, reaching INR 3,409.83 million. This growth is bolstered by a robust rise in revenue and a healthy EBITDA margin. We've also witnessed impressive growth in RORO volume, liquid cargo, and container cargo, and, demonstrating our ability to effectively serve our customers' needs. Looking ahead, we remain dedicated to continuous improvement and delivering best-in-class services at APM Terminals Pipavav,” says Girish Aggarwal, Managing Director, APM Terminals Pipavav.