GPPL
The company posted good YoY set of numbers for first quarter ended 31st March 2014 ( year ending 31st Dec), helped mainly by lower costs, higher other income and other operating income. Net profit for the quarter came in at Rs.61 crore, up 73% (YoY) but sequentially, it was down 21%. Net sales came in at Rs.144 crore, up 26% (YoY) and up 12% (QoQ). EBITDA for current Q1 was at Rs.92 crore, up 61% (YoY). Total operating costs, (YoY), dropped 4%, other income surged 194% and other operating income was up 17%. QoQ, the fall in net profit is mainly on account of the Rs.16 crore exceptional income.
EBITDA margin was at 59%, which includes take or pay and is 28% higher than Q1 2013. The company’s interest costs has come down to Rs.8 crore, down 11% (YoY) and down 3% (QoQ). In terms of container cargo, there has been a 3% (QoQ) decrease in volumes though it rose 16% (YoY). In terms of bulk and general cargo, there was a 29% increase in volumes (QoQ). Higher coal & minerals cargo was offset by lower Fertilizer whereas the 18% (YoY) rise was on account of higher coal cargo. The company had ended 2013 with a net profit of Rs.192 crore and in the first quarter, it has achieved 32% of the same. Hopefully, 2014 will be a much better year.