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Gujarat: Pipavav Port Stock Surges 18% In One Month

| Updated: March 1, 2023 12:07

In intraday trading on Wednesday, shares of Gujarat Pipavav Port (GPPL) rose 4% to Rs 108.85 on the Bombay Stock Exchange (BSE). The stock was trading close to Rs 109.35 level, which it reached on December 30, 2022, which was its 52-week high.

The stock beat the market in the past month by rising 18% after reporting a significant 89 percent year-on-year (YoY) increase in its consolidated net profit at Rs 84.36 crore in the December quarter (Q3FY23).

In the same quarter a year before, the company reported net profit of Rs 44.60 crore (Q3FY22). Operations’ revenue increased by 48.6% to Rs 250.5 crore from Rs 168.56 crore in Q3FY22.

EBITDA, or earnings before interest, taxes, depreciation, and amortisation, increased by 63.4 percent YoY, to Rs 141.7 crore for the company. From 51.5 to 56.6%, the margin increased over the same quarter last year.

Gujarat Pipavav is a port in South-West Gujarat that is promoted by an MNC (APM Terminals – Maersk Group). It is located in a key international marine location that links the US, the Middle East, Africa, and Europe to India on one side and the Far-East on the other.

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