Kolkata, May 17 (IANS) Gujarat Pipavav Port on Thursday reported a 26.60 per cent decline in its standalone net profit to Rs 48.58 crore in the quarter ended March 2018 as compared to Rs 66.19 crore in the year-ago period.

Its revenue from operations, during the quarter under review, declined by 5.2 per cent to Rs 165.48 crore from Rs 174.57 crore during the corresponding quarter last year.

Its board of directors recommended a final dividend of Rs 1.70 per share on the equity share capital of the company.

The company's standalone net profit during the year 2017-18 was at Rs 198.46 crore as compared to Rs 249.91 crore in the previous year.