ICICI Direct: Gujarat Pipavav Port Hikes Prices By 5-6% From Q3 Onwards
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ICICI Direct Report
Gujarat Pipavav Port Ltd. reported a muted set of Q2 FY21 numbers. Consolidated revenues de-grew 8% YoY to Rs 183 crore.
While container volumes de-grew 25% (transhipment volumes contracted the most, leading to a favourable container mix), bulk volumes, on the other hand, saw 36% growth (mainly due to higher fertiliser volumes).
Hence, due to higher handling expenses led by growth in the fertiliser segment, gross margins, Ebitda margins contracted 560 basis points, 730 basis points to 77.6%, 56.3%, respectively.
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