The Indian Metrological Department (IMD) has widely reported in the media that Cyclone Biparjoy, which is located over the Arabian Sea is likely to intensify into extremely severe storm.

Considering the prevailing severe weather conditions, the operations at Pipavav Port have been suspended since late evening on Saturday 10 June 2023.

The firm said that it will keep the exchanges updated once the prevailing weather conditions have improved and the Port gets back to normal operations.

With reference to the disruption in the grid power supply, the company had commenced port operations on 7 June 2023 through the commissioning of the DG sets. The grid power supply has also been fully restored since late evening on Friday, 9 June 2023, it added.

Gujarat Pipavav Port has been operating the Pipavav port in Saurashtra, Gujarat, since 1998. It has exclusive rights to develop and operate facilities of APM Terminals in Pipavav until September 2028, according to a concession agreement with Gujarat Maritime Board and the government of Gujarat. The company handles four cargo types: container, dry bulk, liquid bulk, and RoRo.

The company reported 30.8% rise in consolidated net profit to Rs 97.32 crore in Q4 FY23 from Rs 74.43 crore posted in Q4 FY22. Revenue from operations grew by 6.9% year on year to Rs 234.73 crore in the quarter ended 31 March 2023.

Shares of Gujarat Pipavav Port rose 0.93% to Rs 113.55 on the BSE.