Analysts expect Gujarat Pipavav Port's revenue and profitability growth to be muted for July-September quarter. Profit is expected to be flat at Rs 90 and revenue may increase 4.5 percent to Rs 178 crore compared to year-ago period, according to analysts polled by CNBC-TV18. Earnings will be announced on October 29.
Bottomline may be impacted due to lower other income (absence of dividend from Pipavav Railway Corporation), and higher depreciation & amortisation cost. However, reduced finance cost may aid bottomline on repayment of loans in FY15.
Operating profit is likely to rise 6.8 percent year-on-year to Rs 102 crore and margin may expand by 126 basis points to 57.6 percent during the quarter. Analysts feel lower volumes may be partially offset by higher realisations.
Analysts expect overall volumes to grow in range of 2-4 percent and container volumes to rise 2 percent Y-o-Y, affected by cotton imports ban in China.
Key factors to watch out for would be volumes on account of sluggish exim trade and shift of CMA CGM liner to Mundra. Container volume growth & average realisation and cargo mix (coal/ fertiliser/liquid) will also be closely watched.
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