Gujarat Pipavav Port Bags Five-Year ONGC Contract

25 Sep 2025 , 02:08 PM

Gujarat Pipavav Port Limited said on Wednesday that it has received a contract award letter from ONGC to provide port and storage facilities at Pipavav Port. The agreement, effective October 1, 2025, will run for five years and supports ONGC as it sets up its offshore supply base. The company said the notification will soon be formalised into a signed agreement.

In the first quarter ending June 30, 2025, the port posted a net profit of ₹104.3 crore. This is down from ₹109.6 crore a year earlier. Revenue rose modestly to ₹250.4 crore. This surge is reflecting a mixed performance across cargo segments.

Container volumes dipped 1%, largely due to lower Exim shipments, while bulk cargo edged up 1% on higher mineral handling. Liquid cargo saw strong growth of 21%, driven by increased LPG handling, and roll-on/roll-off volumes rose 11%, thanks to higher OEM dispatches. EBITDA slipped slightly to ₹148 crore, and operating margins narrowed to 59.1% from 60.8% in the previous year.

The ONGC contract adds a significant commercial win for the port, reinforcing its position as a critical logistics hub on the western coast and paving the way for steady long-term business growth.

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