Pipavav: Private port operator Gujarat Pipavav Port Limited (GPPL) on Wednesday announced that it has received a letter from ONGC confirming the award of a contract to hire port and storage facilities at Pipavav Port. The agreement is set for a five-year term, starting October 1, 2025.

The company stated that this notification will lead to the signing of a formal contract with ONGC. Under the agreement, GPPL will provide marine support and storage services within the port as ONGC sets up its offshore supply base at Pipavav Port.

On the financial front, GPPL reported a 4.8% year-on-year (YoY) decline in consolidated net profit to ₹104.3 crore for the quarter ended June 30, 2025, compared with ₹109.6 crore during the same period last year. Revenue from operations rose 1.8% to ₹250.4 crore from ₹246 crore a year ago, supported by a mixed performance across cargo segments.