Revenue from operations grew by 11.57% year on year to Rs 252.61 crore in quarter ended 30 September 2023.

Profit before exceptional items and tax stood at Rs 144.86 crore in Q2 FY24, up 40.33% from Rs 100.69 crore in Q2 FY23. The company reported a exceptional loss of Rs 3.56 crore during the quarter.

EBITDA in Q2 FY24 was at Rs 150.6 crore, up 25% from Rs 120.2 crore posted in Q2 FY23. EBITDA margin improved to 60% in Q2 FY24 as compared to 53% recorded in the corresponding quarter last year.

Meanwhile, the company’s board has approved an interim dividend of Rs 3.60 per equity share for FY24. The record date for the same is fixed on 21 November 2023 and the dividend will be paid by 5 December 2023.

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.