Gateway Distriparks Q2 results: Company posts profit at Rs 74 crore

Integrated inter-modal logistics operator Gateway Distriparks Ltd (GDL) on Monday reported 23.47 per cent growth in profit after tax at Rs 73.50 crore for September quarter 2023-24.

The company had delivered a PAT of Rs 59.53 crore in July-September 2022-23. Total revenue during the quarter under review was Rs 401.42 crore as against Rs 361.91 crore in the same period a year ago, GDL said in a statement.

The company delivered an EBIDTA (earning before interest, depreciation, taxes and amortisation) of Rs 106.13 crore in Q2FY24, as against Rs 98.67 crore earlier.

GDL's total throughput rose 5.48 per cent to 1,93,009 TEUs (total equivalent units) in Q2FY24 from 1,82,975 TEUs handled in the corresponding quarter of the previous fiscal, it said.

Of this, rail vertical throughput increased to 1,00,634 TEUs as against 90,208 TEUs in the same period last year. Container freight station (CFS) volumes, however, declined marginally to 90,375 TEUs from 90,767 TEUs in the second quarter of FY23, it said.

"The company has recorded good performance this quarter, sustaining growth amidst the fluctuations typical of the current economic landscape,” said Prem Kishan Gupta, Chairman and Managing Director of GDL.

The strategic measures implemented in the company's rail network, particularly focusing on container hubbing and double stacking, have been pivotal in managing the prevailing import-export imbalance, he said.

“In recognition of the long-term prospects of EXIM volumes, we are strategically expanding our assets. Starting with this month, we are augmenting our train fleet with an additional three trains. The first train will be delivered this month and the other two over the remainder of the financial year,” he said.

Furthermore, GDL has also increased its vehicle fleet by 60 to ensure seamless first and last-mile connectivity for our clients, Gupta said. "Our Jaipur container terminal is under construction and we continue to evaluate new locations for expanding our rail network further.”

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