In an interview to CNBC-TV18, Keld Pedersen, MD of Gujarat Pipavav Port spoke about the results and his outlook for the company.
Speaking to CNBC-TV18, Keld Pederson, Managing Director of the Gujarat Pipapav said that the company is recovering from cyclone that had hit Gujarat.
Prakash Tulsiani, MD, Gujarat Pipavav, said the capacity increase is in line with the company‘s earlier guidance and they will utilise internal accruals before drawing out IFC‘s loan.
In an interview with CNBC-TV18‘s Reema Tendulkar and Ekta Batra, the company‘s managing director Prakash Tulsiani spoke about the quarter gone by and his outlook for its performance ahead.
Gujarat Pipavav's fourth quarter net profit more than doubled to Rs 77 crore during October-December period against Rs 36 crore on a year-on-year basis.
Though 70% of the company's topline is dollar denominated, rupee depreciation helped it clock only 2 or 3 percentage points gain.
Gujarat Pipavav's Hariharan Iyer believes the company will improve its margins going ahead if the increase in container volume continues. The company reported over five-fold growth in post tax profit at Rs 44.1 crore for the third quarter ended September 30.
Inorder to ensure growth, the firm has upgraded infrastructure to carry double-stack high-cube containers. This step will help it reduce transportation cost and enhance operational capacity.
Gujarat Pipavav Port is hopeful to maintain January-March operating margin of 46.5 percent in current quarter as well on the back of continuing high volumes, Prakash Tulsiani, MD, Gujarat Pipavav Port said.
After it posted an EBITDA margin of 48 percent, Gujarat Pipavav is now gearing up for its expansion plans. Prakash Tulsiani, managing director, Gujarat Pipavav says they will borrow capital worth Rs 1000 crore from external commercial borrowings (ECB).
D Datar, chief financial officer of ABG Shipyard joins CNBC-TV18 to talk about the company’s financial performance in the quarter.