Gujarat Pipavav sails high
Gujarat Pipavav is doing very well today morning. The stock is up currently almost 8% at Rs.51.60, with an intra day high at Rs.53.90. Volumes are up almost 4 times at over 4.5 lakh shares.
The stock is up in the green on the back of its very good performance for its third quarter ended 30th Sept 2013. The company reported an over 5 times surge in net profit at Rs.44 crore, up from Rs.8 crore in previous third quarter.
The company which provides facilities for handling container and bulk carriers, showed a 34% (YoY) jump in total income at Rs.126 crore. There was a 30% rise in volume on additional services and upsizing in the container cargo segment. In the bulk and general cargo segment, it reported an equally robust rise at 31%, which was mainly on account of increase in volumes of mineral and coal shipments. EBITDA was up 82% at Rs.61 crore and EBITDA margins showed a very healthy jump from 35.7% to 48.6%.