Shares of Gujarat Pipavav Port (GPPL) soared 4% to Rs 108.85 on BSE in Wednesday’s intraday trade. The stock was trading near its 52-week high of Rs 109.35 on December 30, 2022.

In the previous month, the stock outpaced the market by soaring 18% after it had described a strong 89% year-on-year (YoY), jumping in its combined net profit to Rs 84.36 crore in the December ending quarter (Q3FY23). The company had forwarded a net profit of Rs 44.60 crore in the year-ago quarter (Q3FY22). The Income from procedures grew 48.6% to Rs 250.5 crore from Rs 168.56 crore in Q3FY22.

The company’s Ebitda rose 63.4% year-on-year YoY to Rs 141.7 crore. Margin enhanced to 56.6% from 51.5% in the year-ago quarter.

Gujarat Pipavav is a South-West Gujarat-founded port with an MNC promoter (APM Terminals – Maersk Group). It deceits at a calculated international maritime location, which links India with the Far East, on the one lateral and the Middle East, Africa, Europe, and the US, on the other direction.