The shares of India’s first private sector port jumped 8 percent in the day’s trade after it declared robust quarter ended September results and it declared an Interim Dividend of Rs. 3.60 per share.
At 2:41 p.m the shares of Gujarat Pipavav Limited were trading at Rs.132.85 up 6 percent from its previous day close price of Rs. 125.15 and its market capitalization is Rs. 6,444 Crores. Gujarat Pipavav Ports Limited have declared their quarter ended september results and it is as follows
Its Revenue from operations grew 11.56 percent YoY from Rs. 226.41 Crores in Q2FY23 to Rs. 252.6 Crores in Q2FY24 and it grew 17.54 percent QoQ from Rs. 214.91 Crores in Q1FY24 to Rs. 252.60 Crores in Q2FY24.
The Net Profit grew 27 percent YoY from Rs. 72.10 Crores in Q2FY23 to Rs. 92.27 Crores in Q2FY24 and it grew 36 percent QoQ from Rs. 67.82 Crores in Q1FY24 to Rs. 92.27 Crores in Q2FY24.
In addition to this the company’s board of directors have approved the payment of Interim Dividend of Rs. 3.60 per equity share and November, 21,2023 is fixed as the record rate to be eligible for receiving the dividend.
As per the company’s financial statements its revenue grew 23.68 percent from Rs. 741.37 Crores in FY22 to Rs. 916.95 in FY23, accompanied by increasing profits of Rs. 197.33 Crores to Rs. 313.14 Crores.
It has reported a return on equity (ROE) of 13.75 percent and a return on capital employed (ROCE) of 18.5 percent, it is making good returns on its equity and capital employed.
According to the latest shareholding data available for the September 2023 quarter, the company’s Promoters hold 44.01 percent stake, the Domestic Institutional Investors hold 21.22 percent and the Foreign Institutional Investors (FII) hold 20.12 percent.
Gujarat Pipavav Port Limited is engaged in the business of handling ports and providing port services such as berth hire, wharfage, container handling, yard operations etc. Currently the Gujarat Pipavav Port is being developed and operated by APM Terminals.
Written by: Bharath K.S
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