Gujarat Pipavav Port Ltd's Q1FY19 standalone net profit declines 15.4% yoy to Rs47cr: Misses Estimates

The company’s standalone revenue in the period stood at Rs176cr, up 4.1% yoy and 6.4% qoq.

Aug 09, 2018 10:08 IST India Infoline Research Team

Gujarat Pipavav Port Ltd Q1FY19

Standalone Results Q1FY19: (in Rs cr)

Q1FY19 YoY (%)
Revenue 176 4.1
EBITDA 91.4 [11.8]
EBITDA Margin (%) 51.9 [939]
Net Profit (adjusted) 47 [15.4]
***EBITDA margin change is bps

Gujarat Pipavav Port missed analyst estimates for Q1FY19 for earnings. Revenue grew 4.1% yoy to Rs176cr against an expectation of Rs173.9cr. EBITDA stood at Rs91.4cr, down 11.8% yoy against the estimates of Rs100cr. EBIDTA margin fell 939bps yoy to 51.9%. Net profit in the quarter stood at Rs47cr against an estimate of Rs54.25cr, a decrease of 15.4% yoy.
  • Container volumes stood at 195,000 TEUs, down 5% qoq due to lower transshipment volumes. Dry bulk volumes stood at 619,000 MT, up 133% qoq due to higher fertilizer volumes. Liquid volumes fell 24% qoq to 160,000 MT due to lower LPG volumes. RORO volumes stood at 16,000 cars, down 31% qoq.
  • Revenue grew 6.3% qoq due to higher volumes for the dry bulk segment.
  • EBITDA fell 421bps yoy due to higher fertilizer handling expenses.

Technical View:

Gujarat Pipavav Port Ltd ended at Rs114.40, down 1.8 points, or 1.55%, from its previous close of Rs116.20 on the BSE.
The scrip opened at Rs116.50 and touched a high and low of Rs116.60 and Rs111.55, respectively. A total of 4,83,002 (NSE+BSE) shares were traded on the counter. The stock traded above its 200 DMA.

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