Companies

GDL net profit doubles to ₹32.6 crore in Q3

Our Bureau New Delhi | Updated on January 19, 2021

Gateway Distriparks’ total income registered 3.88% growth during the time

Gateway Distriparks Ltd (GDL), a company in container train operations and logistics business, saw its net profits double to ₹32.6 crore in the quarter ended December 31, 2020, against ₹16.39 crore in the same time last fiscal. The company’s total income registered a 3.88 per cent growth during the time, with turnover at ₹316.29 crore for quarter ended December, according to consolidated numbers.

The year-on-year container rail business saw almost 9 per cent growth in volumes during the period, though there was a drop in volumes handled at the container freight stations.

The sequential business also improved sharply on the back of export-import trade recovery, as per the company release.

Exim trade

Commenting on the performance, Prem Kishan Dass Gupta, Chairman and Managing Director, stated: “H1FY21 was impacted by Covid-19-linked disruptions, which had weighed on volumes, particularly in Q1FY21. The revival in Exim trade has been much faster than anticipated. In Q3FY21, the company witnessed a sharp recovery in its overall volumes for both our CFS (container freight stations) and rail container business.”

The Board of Directors at their December 29 meeting approved the payment of second interim dividend of ₹2 per equity share of face value ₹10 each for FY2021.

Gupta added: “The improvement in volumes has been seen sequentially every month since the beginning of October 2020. In December 2020, the company recorded the highest monthly throughput of 25,676 twenty feet equivalent units (TEUs) in rail container business. In addition, in the same month, the CFS business witnessed close to peak business with 30,085 TEUs.”

The company’s net debt as on December 31, 2020, stands at ₹494 crore against ₹681 crore on March 31, 2020, said the release.

Also, Gateway Distripark’s intermodal hub at Garhi Harsaru, Gurugram in NCR, is now connected to the Western Dedicated Freight Corridor, part of which is now operational. On BSE, GDL stock closed at ₹116 on Tuesday, up one per cent.

Published on January 19, 2021

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