Gateway Distriparks' PAT jumps 44% to Rs 47.9 cr in Dec quarter

Integrated inter-modal logistics provider Gateway Distriparks Ltd on Monday reported a 44 per cent year-on-year jump in profit after tax (PAT) to Rs 47.92 crore in the December 2021 quarter.

The company had posted a PAT of Rs 33.24 crore in the corresponding period last fiscal, GDL said in a statement.

The total income in October-December 2021 stood at Rs 356.04 crore, a growth of 12.6 per cent as compared with Rs 316.29 crore in the year-ago period, it said.

It also said Gateway East India Pvt Ltd and Gateway Distriparks Ltd merged with Gateway Rail Freight Ltd from December 28, 2021. Subsequently, Gateway Rail Freight Ltd changed its name to Gateway Distriparks Ltd, from February 11, 2022.

Throughput during the December 2021 quarter rose 19.6 per cent to 180,704 twenty-foot equivalent units (TEUs) as compared with 151,102 TEUs in the quarter year earlier.

"The company has delivered another successful quarter with sustained growth and increased revenue and we foresee this positive trend to continue going ahead," said Prem Kishan Das Gupta, chairman and managing director of Gateway Distriparks.

He said the company has completed its amalgamation process and now its rail, inland container depot (ICD) and container freight station (CFS) businesses are all under one umbrella, Gateway Distriparks Ltd.

"In the new entity, we are now able to offer a pan-India network of ICD and CFS to shipping lines and EXIM customers," Gupta stated.

In addition, he said the company has a stronger balance sheet and combined cash flows of all businesses available for funding its expansion plans, which GDL is planning primarily in the north to west industrial corridor for setting up new ICDs.

Net debt stood at Rs 373.87 crore as on December 31, 2021, as against Rs 440.91 crore as on September 30, 2021, GDL said.