Vol. XXVI No. 58 th
FRIDAY 12 JUNE 2020
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Piyush Goyal meets officials to discuss measures of increasing exports and reducing import NEW DELHI: Commerce and Industry Minister Piyush Goyal held a review meeting with senior officials of the ministry and discussed measures to increase exports, reduce import reliance and boost domestic manufacturing. He also discussed the future course of action in the post-coronavirus era to make India an industrial powerhouse with the officials of the Department for P romotion of Industr y and Internal Trade (DPIIT). “Held a review meeting with officials from the Department of Commerce… discussed measures to increase and diversify exports, reduce import reliance and boost domestic manufacturing,” the minister said in a tweet.
The performance of the country’s exports is expected to be better in May and June as compared to the steep fall recorded in April, when the shipments contracted to an all-time high of 60.28 per cent, Goyal has said earlier. Shri Piyush Goyal Contracting for the second straight month, India’s exports shrank by a record 60.28 per cent in April to USD 10.36 billion, mainly on account of the coronavirus lockdown. Imports also plunged by 58.65 per cent to USD 17.12 billion in April, leaving a trade deficit of USD 6.76 Cont’d. Pg. 13 billion as against USD 15.33 billion in April 2019.
APM Terminals Pipavav financial performance for the Year ended March 31, 2020 MUMBAI: APM Terminals Pipavav (Gujarat Pipavav Port Ltd) announced the financial results for the quarter ended March 31, 2020. The company reported a net profit of INR 472 million for Q4FY20 as against INR 506 million in Q4FY19. Revenue from operations for the quarter under consideration stood at INR 1,619 million as against INR 1,801 million in Q4FY19.
EBIDTA for the quarter was at INR 1,004 million as against INR 995 million during the same quarter last year. EBIDTA margin stood at 62% in Q4FY20 as against 55% in Q4FY19. The container cargo business for the quarter stood at appx. 197K TEUs, Bulk business was at 412K MT and Liquid business was at appx. 194K MT, RoRo business handled appx. 3K cars for Cont’d. Back Pg. the quarter under review.
Mr. Jakob Friis Sørensen