Financial Highlights: Q1 2010 vs 2011
Compared to Q1 2010, Port Pipavav registered a positive net result of INR 60 million in Q1 2011 as against a loss of INR 318 Million in Q1 2010. The results also included a 54% increase in revenue, 118% increase in EBITDA and 42% increase in EBITDA margin in Q1 2011.
Financial Highlights: Q1 201 vs Q4 2010
As compared to the last quarter, the port has achieved 5% increase in EBITDA margins and 9% cost savings. While in Q4 2010 , there was a onetime favourable write back of INR 32 million, in Q1 2011 there has been a 5% increase in depreciation due to capitalization of new assets and an exchange loss of INR 10 million due to loan repayments. As a result, there has been a reduction in revenue by 5%.
Operational Highlights
Container cargo volume has increased by 29% over Q1 2010 and stands at 96% of Q4 2010 when the port achieved peak volumes. Two new Shipping services – the MSC IPAK Service and NYK Hercules Service – have been added to the portfolio of services and the market share has increased by 29%.
Bulk volumes have grown by 33% over Q1 2010 and two new customers have been added for transporting Rock phosphate and Salt. Liquid Cargo volumes grew significantly to 30,024 million tonnes.
An all time high of 366 trains were handled by the port, demonstrating the quicker pace of evacuation achieved, which remains one of Port Pipavav’s signature strengths among ports in Gujarat.
Port Projects
A number of projects such as the Customs House and Employee Housing Colony have been completed. New container yards, pre gate area, railway lines and sidings are in varying stages of completion.