Aegis Vopak Terminals' Q2 net profit dips 2.3 pc to Rs 86.6 crore
Mumbai, Oct 26
Aegis Vopak Terminals Limited on Monday reported a net profit of Rs 86.6 crore for the quarter ended September, down 2.3 per cent from Rs 88.6 crore recorded in the corresponding quarter of the previous fiscal year.
According to the company's exchange filing, revenue from operations increased 16.6 per cent year-on-year to Rs 271 crore, compared with Rs 232 crore in the year-ago period, driven by growth across both its liquid and gas terminal businesses.
The company's operating performance remained strong during the quarter. Earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 20.2 per cent to Rs 197 crore from Rs 163.7 crore a year earlier.
EBITDA margin improved to 72.6 per cent from 70.5 per cent in the corresponding quarter last financial year.
The Liquid Terminal Division reported revenue of Rs 128.88 crore during the quarter, up from Rs 106.03 crore a year ago.
Segment results for the division climbed to Rs 72.99 crore from Rs 46.58 crore in the same period last financial year.
Meanwhile, the Gas Terminal Division generated revenue of Rs 141.96 crore, compared with Rs 126.19 crore in the year-ago quarter.
Segment results rose sharply to Rs 88.96 crore from Rs 59.81 crore, as per its filing.
The company has also continued to expand its infrastructure footprint. Earlier in August, its parent company, Aegis Logistics, signed a framework agreement with AVTL for the construction of an additional refrigerated propane storage tank and allied facilities at the Jawaharlal Nehru Port Authority (JNPA) tank farm area.
The agreement is valued at Rs 142.5 crore. Under the arrangement, Aegis Logistics will receive the contract value from AVTL upon execution of the framework agreement.
The proposed facility will feature a refrigerated and insulated propane storage tank with a double-steel-wall, full-containment design and a storage capacity of 51,998 metric tonnes, enhancing the company's gas storage infrastructure.
Shares of Aegis Vopak Terminals were trading 0.29 per cent higher at Rs 243.40 on the NSE during intra-day trading session.
However, the stock remains under pressure, having declined 15.4 per cent over the past month and 3.5 per cent so far this year.
— IANS
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