Profit before tax stood at Rs 132.07 crore in the third quarter of FY25, down 13.54% from Rs 152.77 crore in the corresponding quarter last year.

Total expenses added 10.13% to Rs 155.86 crore in Q3 FY25 over Q3 FY24. Operating expenses stood at Rs 51.55 crore (up 5.98% YoY), employee benefits expense was Rs 23.85 crore (up 19.30% YoY), and finance costs were at Rs 1 crore (down 50.24% YoY) during the period under review.

On a nine-month basis, the company’s net profit jumped 3.03% to Rs 284.54 crore on a 0.16% decline in revenue from operations to Rs 735.90 crore in 9M FY25 over 9M FY24.

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 the Gujarat Maritime Board and the government of Gujarat. The company handles four cargo types: container, dry bulk, liquid bulk, and RoRo.