Gujarat Pipavav port posts strong Q2 performance

Gujarat Pipavav Port Ltd (GPPL) delivered a stellar performance in the second quarter of FY26, driven by robust cargo volumes and improved operational efficiency. The company’s revenue from operations surged 31.9% year-on-year to ₹299.35 crore, compared with ₹227.04 crore in Q2 FY25. Sequentially, revenue rose 19.5% from ₹250.45 crore in Q1 FY26.

The company’s adjusted net profit (PAT) jumped 70.1% year-on-year to ₹128.44 crore, up from ₹75.49 crore in the corresponding period last year, and 23.1% higher than the ₹104.33 crore reported in Q1 FY26. Profit before tax (PBT) climbed 69.8% YoY to ₹214.7 crore, registering a 54.2% increase sequentially.

Total expenditure during the quarter rose 28.6% to ₹121.52 crore, reflecting higher operational activity. Employee costs grew 8% to ₹22.91 crore, while depreciation increased 8.6% to ₹31.65 crore. Interest expenses, however, declined 8.1% year-on-year to ₹1.47 crore. The company’s tax outgo for the quarter stood at ₹53.9 crore, marking a 5.9% annual rise and a 54.4% increase over the previous quarter.

In recognition of its strong financial performance, the Board of Directors declared an interim dividend of ₹5.40 per share for FY26, with November 12, 2025, as the record date.

GPPL also provided an update on insurance recoveries related to Cyclone Tauktae, which struck the Pipavav port in May 2021. Although operations were temporarily halted until June 1, 2021, the company’s precautionary measures prevented any loss of life. Repairs to damaged infrastructure cost ₹84.71 crore, against which GPPL has so far received ₹63.04 crore in insurance claims as of March 31, 2025. The company recently received ₹14.40 crore on September 24, 2025, and ₹28.74 crore on October 23, 2025, completing the restoration process with no additional expenditure during the current quarter.

Situated on Gujarat’s west coast in Amreli district, Gujarat Pipavav Port operates a modern, all-weather, multi-cargo, and multi-user port facility. The port serves as a key maritime gateway, offering international connectivity to major shipping lines and seamless access for trade from North and North-West India’s industrial and agricultural heartlands.

With its continued operational resilience and strong financial momentum, GPPL remains well-positioned to capitalize on India’s growing trade flows and expanding logistics ecosystem.