Gujarat Pipavav Port Posts 60% Rise In Q1 Profit

New Delhi: Gujarat Pipavav Port Ltd (GPPL) on Thursday posted a 60 per cent rise in standalone net profit at Rs 59.75 crore for the fiscal first quarter that ended on June 30, on the back of lower expenses.

The company, a part of APM Terminals, had posted a net profit after tax of Rs 37.23 crore for the corresponding period a year ago, it said in a filing to the BSE.

However, the net sales during April-June quarter declined to Rs 154.66 crore, as against Rs 172.30 crore a year ago.

The company's expenses during the quarter under review declined to Rs 92.06 crore, as against Rs 110.05 crore in the year-ago period.