Gujarat Pipavav Port awarded 5-year ONGC contract for offshore supply base facilities
Published on 24/09/2025 10:37 PM
Gujarat Pipavav Port awarded 5-year ONGC contract for offshore supply base facilitiesShares of Gujarat Pipavav Port Ltd ended at ₹153.25, down by ₹2.70, or 1.73%, on the BSE.By Jomy Jos Pullokaran September 24, 2025, 10:37:21 PM IST (Published)2 Min ReadPrivate port operator Gujarat Pipavav Port Limited on Wednesday (September 24) said it has received a letter dated September 24, 2025, from ONGC notifying the award of a contract for hiring port and storage facilities at Pipavav Port. The contract will be for a period of five years starting October 1, 2025.
The company said this notification will be translated into the signing of a formal agreement with ONGC. Under the arrangement, Gujarat Pipavav Port will provide marine support and storage facilities within the port premises as ONGC establishes its offshore supply base at Pipavav Port.
Gujarat Pipavav Port reported a 4.8% year-on-year (YoY) drop in consolidated net profit to ₹104.3 crore for the quarter ended 30 June 2025, compared with ₹109.6 crore in the same period last year. Revenue from operations rose 1.8% to ₹250.4 crore from ₹246 crore a year ago, supported by mixed cargo performance.
Also Read: Gujarat Pipavav Q4 Results: Net profit surges 70.7% YoY despite flat revenue
EBITDA slipped 1% to ₹148 crore from ₹150 crore, while the operating margin contracted to 59.1% from 60.8% in the corresponding quarter last year. Cargo-wise, container volumes declined 1% on lower Exim volumes, while bulk cargo rose 1% driven by higher mineral shipments.
Liquid cargo volumes surged 21% on increased LPG handling, and roll-on/roll-off (RoRo) volumes rose 11%, supported by higher dispatches from original equipment manufacturers (OEMs).
Shares of Gujarat Pipavav Port Ltd ended at ₹153.25, down by ₹2.70, or 1.73%, on the BSE.
Also Read: Govt announces major projects to boost capacity at Kandla Port with ₹57,000-crore investment
Continue ReadingCheck out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!TagsGujarat Pipavav PortONGCshare market today