India's Gujarat Pipavav Ports falls on quarterly profit decline; brokerages flag tariff uncertainties

About this update from Gujarat Pipavav Port Limited

** Shares of Gujarat Pipavav Port NSE:GPPL fall 2% to 154.2 rupees** Port operator posts nearly 5% y/y decline in Q1 consol net profit; consol rev from ops rises nearly 2% y/y** HSBC downgrades to "reduce" from "hold"; cuts PT to 135 rupees from 140 rupees, implying 14% downside from last close** Cites container recovery dented by 50% U.S. tariff on Indian goods** Jefferies says EBITDA missed estimates** Flags uncertainty on concession period and potential market share losses to western ports** GPPL rated "hold" by 10 analysts on average; median PT is 154 rupees – data compiled by LSEG** Stock down 15.4% YTD

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