Gujarat Pipavav Port’s share price added over 2% on February 9, a day after the company presented its December quarter earnings.

The company’s net profit jumped 89% to Rs 84.36 crore in the quarter that ended December 2022, compared to Rs 44.60 crore in the same quarter in December 2021.

The company fixed a 48% rise in sales to Rs 250.57 crore in the quarter that ended December 2022, as associated with Rs 168.56 crore during December 2021.

At 9:34 am, Gujarat Pipavav Port quoted Rs 94.75, up Rs 2.2%, or 2.38% on BSE. It grabbed an intraday high of Rs 98.55 with an intraday low of Rs 94.65. The graph was trading with volumes of 158,948 shares, linked to its 5-day average of 106,206 shares, a high of 49.66%.

Liquid Volume strength is probable to sustain with VLGC Compliant Terminal commissioning. Nomura, the Japanese research firm, has a ‘buy’ rating of Rs 142 per share, an upside of over 51% from the current market price. The brokerage firm thinks increased-than-estimated realisations led to the company’s robust Q3 results.