Gujarat Pipavav Port Q1 net zooms 60% to Rs 60 cr

NEW DELHI: Gujarat Pipavav Port Ltd (GPPL) today posted a 60 per cent rise in standalone net profit to Rs 59.75 crore for the first quarter ended 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 in the year-ago period, Gujarat Pipavav Port Ltd said in a BSE filing.

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

The company's expenses during the quarter declined to Rs 92.06 crore over Rs 110.05 crore in the corresponding period of FY'16.