Gujarat Pipavav Port Ltd (APM Terminals Pipavav), operating one of western India´s fastest growing gateway ports, has reported a 16 per cent jump in net profit for the fourth quarter ended 31st December 2014, as against Rs 771 million in the corresponding quarter last year mainly driven by an increase in reefer cargo exports as well as increase coal and fertilizer imports. Commenting on the results, APM Terminals Pipavav Managing Director, Prakash Tulsiani said: ´Our container cargo is in the same range as the corresponding quarter of the previous year as we had an exceptionally great Q4CY13.
Bulk cargo increased 128 per cent, mainly driven by higher coal and fertilizers. The new liquid cargo business has also started contributing positively to the overall revenue.´
This year the company is changing its accounting year from current Calendar Year to Financial Year April - March. Accordingly, the current year will be a 15-month period starting 1st Jan 2014 until 31st March 2015.
APM Terminals Pipavav is part of an international network operated by APM Terminals BV an independent business unit within the Maersk Group.
APM Terminals is lifting global trade with a Global Terminal Network of 20,300 professionals and 186 port and inland services operations in 63 countries around the globe.
The company designs, builds and operates ports and inland services. The world´s leading brands and shipping lines rely on APM Terminals to ensure their supply chains and global network succeed in all markets.
Strategically located in Gujarat, approximately 160 nautical miles north west from JNPT, Mumbai, APM Terminals Pipavav is one of Western India´s fastest growing gateway ports and has excellent connectivity to the rich hinterlands in the North and West Regions of India. Pipavav Port is the first Public Private Partnership (PPP) Port in India.