APM Terminals Pipavav Reports 9% Net Profit Growth in FY24

APM Terminals Pipavav, a leading gateway port in Western India, reported a net profit growth of 9% to INR 3,409.83 million in FY24 compared to INR 3,138.15 million in FY23. Revenue for the fiscal year also increased by 8% to INR 9,884.29 million. The port handled 808,000 TEUs of container cargo, 2.71 million MT of dry bulk volume, 1.29 million MT of liquid volume, and 97,000 units under the RoRo category. There were 2286 container trains handled during the year, a 19% increase compared to the previous fiscal year.

Consolidated EBITDA for APM Terminals Pipavav in FY24 was INR 5,730.53 million, growing by 14% from INR 5,021.41 million in FY23. The EBITDA margin also increased from 55% to 58% during this period. The growth in revenue, EBITDA, and profit is attributed to the port’s commitment to operational excellence and dedication to continuous improvement. The Managing Director, Mr. Girish Aggarwal, highlighted the significant increase in consolidated net profit and impressive growth in various cargo categories, emphasizing their focus on delivering best-in-class services to customers.

The container cargo business at APM Terminals Pipavav grew by 6% to 808,000 TEUs for the full year. The port saw increased volumes across different cargo categories, with a rise in RoRo, liquid cargo, and container cargo. The significant growth in revenue, EBITDA, and profit, along with improved cargo handling numbers, reflects the port’s strong performance and ability to effectively serve customer needs. Moving forward, APM Terminals Pipavav remains committed to continuous improvement and providing top-notch services to its customers.

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