APM Terminals Pipavav’s net profit increased by 9 percent to ₹3,409.83 million in FY24.
APM Terminals Pipavav, also known as Gujarat Pipavav Port, has reported a 9 percent growth in net profit for FY24, reaching ₹3,409.83 million, up from ₹3,138.15 million in the previous fiscal year. The port also saw an 8 percent rise in revenue, totaling ₹9,884.29 million compared to ₹9,169.50 million in FY23. These figures were disclosed in the company’s official release.
Consolidated EBITDA for the year was robust at ₹5,730.53 million, marking a 14 percent increase from ₹5,021.41 million in FY23. The EBITDA margin also showed improvement, climbing to 58 percent in FY24 from 55 percent the previous year.
The port’s container cargo business for FY24 stood at 808,000 TEUs, reflecting a 6 percent increase. Dry bulk volume reached 2.71 million metric tons (MT), liquid volume was 1.29 million MT, and 97,000 units were handled in the roll-on/roll-off (RoRo) category. Additionally, APM Terminals Pipavav handled 2,286 container trains during the year, a significant rise from the 1,921 trains managed in FY23.
Girish Aggarwal, Managing Director of APM Terminals Pipavav, commented on the results, stating, “Our commitment to operational excellence has translated into a significant 9 percent increase in consolidated net profit, reaching ₹3,409.83 million. This growth is bolstered by a robust rise in revenue and a healthy EBITDA margin.”
These strong financial and operational results underscore the port’s strategic importance as a key gateway in Western India, further solidifying its position in the maritime industry.
