In the last quarter alone, revenue increased by 26% and EBITDA and EBITDA margins increased by 92% and 52% respectively compared to the same period the year before. “We have achieved significant positive developments in Net Results. This is mainly due to increase in volumes, better realizations, reduction in interest cost and remaining cost focused,” said Hariharan Iyer, Chief Financial Officer, APM Terminals Pipavav.
Prakash Tulsiani, Managing Director, APM Terminals Pipavav said, “The Company has clearly demonstrated that focused efforts can deliver a healthy bottom line. We have laid a strong foundation for the future and I look forward to the full potential of it being unfolded in the coming years.”
During 2010, the company achieved significant milestones. Cargo volumes grew manifold, new revenue streams were generated and market share for the port was increased. Container cargo volumes increased by 45% and eight new container lines and five new shipping services were added to the portfolio of shipping lines and services calling at the port. New revenue streams were developed and liquid cargo business grew.
“We have earned the reputation of ‘fastest growing port’ in India. I am happy to share that our market share has gone up by 25% in the financial year 2010 alone,” added Tulsiani. The port has enhanced rail frequency to keep up with the growth in volumes. Rail volumes broke all previous records by growing 44% in Quarter 4 and 34% in the year 2010 as compared to the year 2009. Cargo volumes tonnage moved by rail grew 40% over the previous year.