Gujarat Pipavav Port Ltd (NSE: GPPL) shares slumped to a new 52-week low of ₹132.45 on February 13 following disappointing Q3 FY24 results. As of 11:08 AM, the shares were trading 1.65% down to Rs 132.53.
The company reported a 14.3% year-on-year (YoY) drop in net profit to ₹99.4 crore for the quarter ended December 31, 2024, compared to ₹116 crore in the same period last year.
Revenue from operations declined by 2.5% YoY to ₹262.9 crore from ₹269.6 crore in Q3 FY23. Meanwhile, EBITDA fell 12.9% to ₹138.7 crore, with the EBITDA margin contracting to 52.8% from 59.1% in the prior-year quarter. The dip in profitability reflects weaker operational performance amid challenging market conditions.
Gujarat Pipavav Port, a key gateway port in India, handles container, dry bulk, liquid bulk, and RoRo cargo. It has a cargo handling capacity of 1.35 million TEUs for containers, 4 million metric tons of dry bulk, 2 million metric tons of liquid bulk, and 250,000 passenger cars annually. The port is strategically located with seamless connectivity to northwest India’s hinterland via rail and road networks.