Gujarat Pipavav Port (APM Terminals Pipavav) has announced an impressive set of half year results, with net profit up 100% compared to the equivalent figures in 2013.
The port in western India reported a net profit of INR1416m (US$23.6m) between January and June 2014, while there was a 128% increase in net profit calculated on a quarterly basis (April to June) against the 2013 value.
Container volume handled rose from 143,000 to 203,000 teu in the second quarter of 2014 compared to the corresponding quarter last year.
APM Terminals Pipavav managing director, Prakash Tulsiani said: “The operational efficiencies and superior hinterland connectivity to fulfil the needs of our clients has rewarded us with these growth numbers.”
“Despite seasonality in the business and the fact that April-June period is supposed to be a lean quarter for us, we have witnessed a decent volume growth and realisation,” he added.