News Earnings Gujarat Pipavav Port Reports Strong Nine-Month Performance with 24.1% Profit Growth in Q3FY26Gujarat Pipavav Port Reports Strong Nine-Month Performance with 24.1% Profit Growth in Q3FY26
Gujarat Pipavav Port Limited reported strong nine-month financial performance for the period ended December 31, 2025, with net profit growing 24.1% to ₹3,603.47 million compared to ₹2,901.24 million in the previous year. Revenue from operations increased 14.4% to ₹8,420.52 million, while earnings per share rose to ₹7.45 from ₹5.99. The company faced exceptional charges of ₹43.29 million due to new Labour Code implementation but benefited from cyclone insurance settlement of ₹426.52 million. Despite ongoing legal disputes with Gujarat Maritime Board and arbitration matters, the company maintained strong shareholder returns with interim dividend of ₹5.40 per share totaling ₹2,610.58 million.
*this image is generated using AI for illustrative purposes only.
Gujarat Pipavav Port Limited has announced its unaudited financial results for the quarter and nine months ended December 31, 2025, showcasing strong operational performance despite facing some quarterly challenges. The port operator demonstrated resilient growth in its nine-month performance while managing ongoing legal disputes and regulatory changes.
Financial Performance Overview
The company's nine-month financial performance reflects robust growth across key metrics. Net profit for the nine months ended December 31, 2025, reached ₹3,603.47 million, marking a substantial 24.1% increase from ₹2,901.24 million in the corresponding period of the previous year.
| Metric | Nine Months FY26 | Nine Months FY25 | Growth (%) |
|---|---|---|---|
| Revenue from Operations | ₹8,420.52 million | ₹7,359.04 million | +14.4% |
| Total Income | ₹9,015.70 million | ₹7,977.03 million | +13.0% |
| Net Profit | ₹3,603.47 million | ₹2,901.24 million | +24.1% |
| Earnings Per Share | ₹7.45 | ₹5.99 | +24.4% |
Quarterly Results Analysis
The third quarter performance showed mixed results with revenue growth but margin pressures. For Q3FY26, the company reported net profit of ₹1,013.08 million compared to ₹939.86 million in Q3FY25, representing a 7.8% increase.
| Parameter | Q3FY26 | Q3FY25 | Change (%) |
|---|---|---|---|
| Revenue from Operations | ₹2,922.51 million | ₹2,628.89 million | +11.2% |
| Total Expenses | ₹1,666.48 million | ₹1,558.57 million | +6.9% |
| Profit Before Tax | ₹1,360.59 million | ₹1,257.83 million | +8.2% |
| Net Profit | ₹1,013.08 million | ₹939.86 million | +7.8% |
Exceptional Items and Regulatory Impact
The company faced exceptional charges during the reporting period, primarily due to regulatory changes. The implementation of new Labour Codes resulted in an exceptional charge of ₹43.29 million in Q3FY26, representing past service cost arising from changes in wage definitions under the consolidated labour laws notified on November 21, 2025.
Conversely, the company benefited from the final settlement of cyclone Tauktae insurance claims, receiving ₹426.52 million (₹143.96 million in September 2025 and ₹282.56 million in October 2025) as full and final settlement for cyclone-related damages incurred in May 2021.
Ongoing Legal Disputes
Gujarat Pipavav Port continues to manage several significant legal matters. The company faces an ongoing dispute with Gujarat Maritime Board regarding a bank guarantee of ₹185.35 million that was encashed in February 2019, along with additional demands for liquidated damages and GST totaling ₹370.95 million. The dispute resolution process through an Expert Committee is currently in progress.
Additionally, the company is dealing with an arbitration award matter involving a customer agreement from 1998, where it has submitted a bank guarantee of ₹601.36 million with the Mumbai High Court Registrar while challenging the award.
Dividend Distribution
The company maintained its commitment to shareholder returns through substantial dividend payments. An interim dividend of ₹5.40 per share, aggregating to ₹2,610.58 million, was declared and paid in November 2025. Additionally, a final dividend of ₹4.20 per share (₹2,030.45 million) for the previous financial year was paid in September 2025.
Consolidated Results
The consolidated financial results, which include the company's associate Pipavav Railway Corporation Limited, showed even stronger performance. Consolidated net profit for the nine months reached ₹3,729.71 million compared to ₹2,845.37 million in the previous year, with consolidated earnings per share of ₹7.71 versus ₹5.89 in the corresponding period.
Historical Stock Returns for Gujarat Pipavav Port
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +2.20% | +10.02% | -1.08% | +16.90% | +27.55% | +90.38% |
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