Gateway Distriparks Q2 PAT up 27% to Rs 60 cr, revenue rises to Rs 361 cr

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Integrated inter-modal logistics operator Gateway Distriparks Ltd on Wednesday reported a 27 per cent growth in consolidated profit after tax (PAT) at Rs 59.53 crore for the second quarter of this fiscal.

The company had posted a consolidated PAT of Rs 46.90 crore in the quarter ended September 30, 2021, Gateway Distriparks Ltd (GDL) said in a statement.

Its total revenue (Rail and Container Freight Stations) rose 6 per cent to Rs 361.91 crore in the reporting quarter as against Rs 341.50 crore in the second quarter of the previous fiscal.

Rail revenue increased 8.61 per cent to Rs 278.53 crore in Q2 FY23 over Rs 256.46 crore in the year-ago period, while Container Freight Stations (CFS) revenue declined 1.95 per cent to Rs 83.38 crore.

The total throughput during the quarter dipped 3.22 per cent at 182,975 TEUs (Twenty-foot Equivalent Units) as against 189,054 TUEs handled during the same quarter of FY22.

"In September, the company acquired 30 acres of land for a greenfield ICD (Inland Container Depot) at Jaipur, for which the construction has already started. The company has also signed a Share Purchase Agreement for acquisition of an ICD in Kashipur, which is expected to close by December 2022.

"With these two new terminals, our presence will grow to 11 locations across India and will lead to an increase in our volumes and profitability," said Prem Kishan Dass Gupta, chairman and managing director, GDL.