Gateway Distriparks’ Q3 FY23 consolidated PAT up 15%
Gateway Distriparks Ltd (GDL), a leading integrated intermodal logistics facilitator, on Tuesday announced its unaudited financial results for the December quarter of the current financial year. They are as shown in the tables.
Mr Prem Kishan Gupta, Chairman and Managing Director, commented: “Due to the global macroeconomic situation, there is a dip in throughput in Q3 particularly in the export direction. Further, track upgradation work was taking place in NCR throughout the month of December, leading to slower running of trains and reduced double-stack and hub & spoke operations of the company. The revenues appear to be flat as last year due to Punjab Conware CFS numbers being included in Q3 FY2022. Profit after Tax continues to show a healthy growth of over 15% as the company continues to reduce its debt.
“On the expansion front, the company also completed its acquisition of Kashipur Infrastructure Freight Terminal Private Limited (KIFTPL) on December 23, 2022 and has started regular train services between Kashipur and Mundra, Pipavav & Nhava Sheva. Currently, KIFTPL was only earning the terminal income but from Q4 onwards Gateway Distriparks will earn the entire revenue for rail and terminal services. Construction at the proposed ICD in Jaipur remains in progress and the terminal is expected to be operational in Q3 FY 2024. The company is also actively looking to set up 2 more terminals by FY2025.”
Source: Exim News Service: Mumbai/Delhi, Jan. 24