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Last Updated : May 16, 2019 06:37 PM IST | Source: PTI

APM Terminals Pipavav Q4 net profit rises 4% to Rs 51 cr

The company had reported a net profit of Rs 48.6 crore for the corresponding quarter of 2017-18.

 
 
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APM Terminals Pipavav (Gujarat Pipavav Port Ltd) Thursday said its net profit rose 4 per cent to Rs 50.6 crore in the fourth quarter ended March 31.

The company had reported a net profit of Rs 48.6 crore for the corresponding quarter of 2017-18.

"Revenue from operations for the quarter under consideration stood at Rs 1,801 million (Rs 180.1 crore) as against Rs 1,655 million (Rs 165.5 crore) in Q4FY18," the company said in a statement.

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The container cargo business for the quarter stood at about 2,19,000 twenty-foot equivalent units (TEUs), the company said adding its 'roll-on, roll-off' business handled about 18,000 cars for the quarter under review.

"For the full year ended March 2019, the company reported a net profit of Rs 2,052 million (Rs 205.2 crore). Total Income from operations for FY19 stood at Rs 7,020 million (Rs 702 crore)," the statement said.

APM Terminals Pipavav Managing Director Keld Pedersen said, "Our container volumes grew 29 per cent on account of new service additions and bulk volumes grew 10 per cent, owing to high fertiliser volume in 2018-19."

The statement said Ajit Venkataraman will be appointed as the managing director of APM Terminals Pipavav effective June 1, 2019.

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First Published on May 16, 2019 06:30 pm
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