APM Terminals Pipavav Q1 net profit rises 80%

Ahmedabad: APM Terminals Pipavav (Gujarat Pipavav Port Ltd) on Wednesday posted an 80% jump in its consolidated net profit at Rs 59.34 crore during the first quarter of fiscal year 2022-23 as compared to Rs 32.77 crore. The company’s revenue from operations for the quarter under consideration stood at Rs 20.8 crore against Rs 15.9 crore in the year-ago quarter. Jakob Friis Sørensen, MD, APM Terminals Pipavav, said, “With economies around the world opening up and businesses normalizing, the growth in cargo business has led to good performance this quarter. However, the slowdown in the global supply chain is still a concern.” tnn