Results     03-Aug-23
Analysis
Gateway Distriparks
Sales up 8%, net up 9%
 

Consolidated net sales (including other operating income) of Gateway Distriparks for the quarter ended Jun 2023  has increased 7.55% to Rs 369.69 crore.  Throughput of rail business in Q1FY24 was up 5% (to 89939 TEUs) and that of CFS was down 3% (to 89958 TEUs).Operating profit margin has jumped from 25.42% to 25.81%, leading to 9.18% rise in operating profit to Rs 95.40 crore.  Employee cost increased from 4.87% to 5.04%.   Other expenses fell from 69.71% to 69.16%.   Other direct service cost fell from 62.28% to 61.94%.   

Other income rose 48.28% to Rs 5.16 crore.  PBIDT rose 10.68% to Rs 100.56 crore.  Provision for interest fell 4.41% to Rs 11.26 crore.  

PBDT rose 12.92% to Rs 89.3 crore.  Provision for depreciation fell 2.39% to Rs 24.89 crore.  

Profit before tax grew 20.21% to Rs 64.41 crore.  Share of profit/loss was 66.67% higher at Rs 1.25 crore.  Provision for tax was debit of Rs 1.93 crore, compared to credit of Rs 4.12 crore.  Effective tax rate was 2.94% compared to negative 7.58%.

Minority interest decreased 10.34% to Rs 0.78 crore.  Net profit attributable to owners of the company increased 9.33% to Rs 62.95 crore.  
Management Comments

Prem Kishan Gupta, Chairman and Managing Director, commented, "Train running was impacted this quarter by the Biparjoy cyclone when the rail network & port operations were shut for some time in Gujarat, along with some double stack restrictions imposed temporarily by Indian Railways during the quarter as well. However, the volumes have been catching up and we are starting to see signs of improvement in the Export volumes as well which have been low in the last few quarters due to lesser demand in Western Europe and North America, especially for retail products manufactured in India for those markets. As the overall EXIM demand continues to grow, we are now adding three trains to our fleet over the next 6 months. On the expansion front, we are also on track to finalise new locations in the hinterland to expand our container terminal network.” 

Promoters’ stake was 32.32% as of 30 June 2023 ,compared to 32.12% as of 30 June 2022 .  

 

Gateway Distriparks : Consolidated Results
 Quarter endedYear ended
Particulars202306202206Var.(%)202303202203Var.(%)
Net Sales (including other operating income)369.69343.757.551,420.941,373.663.44
OPM (%)25.8125.4239 bps25.9326.83-90 bps
OP95.4087.389.18368.45368.54-0.02
Other Inc.5.163.4848.2822.0933.16-33.38
PBIDT100.5690.8610.68390.54401.70-2.78
Interest11.2611.78-4.4145.3064.70-29.98
PBDT89.3079.0812.92345.24337.002.45
Depreciation24.8925.5-2.39103.94127.67-18.59
PBT64.4153.5820.21241.3209.3315.27
Share of Profit/(Loss) from Associates1.250.7566.674.980.79530.38
PBT before EO65.6654.3320.85246.28210.1217.21
EO Income00-00-
PBT after EO65.6654.3320.85246.28210.1217.21
Taxation1.93-4.12PL4.38-13.7PL
PAT63.7358.459.03241.9223.828.08
Minority Interest (MI)0.780.87-10.3420.036,566.67
Net profit62.9557.589.33239.9223.797.20
P/(L) from discontinued operations net of tax00-00-
Net profit after discontinued operations62.9557.589.33239.9223.797.20
EPS (Rs)*1.261.0717.624.804.2014.19
* EPS is on current equity of Rs 499.64 crore, Face value of Rs 10, Excluding extraordinary items.
# EPS is not annualised
bps : Basis points
EO : Extraordinary items
Figures in Rs crore
Source: Capitaline Corporate Database


Previous News
  Gateway Distripark
 ( Analyst Meet / AGM - Conference Call 15-Feb-24   09:21 )
  Gateway Distriparks to discuss results
 ( Corporate News - 20-Apr-23   10:32 )
  Shares of Gateway Distriparks get listed
 ( Corporate News - 22-Mar-22   09:03 )
  Gateway Distriparks consolidated net profit rises 32.16% in the June 2022 quarter
 ( Results - Announcements 02-Aug-22   15:47 )
  Gateway Distripark
 ( Analyst Meet / AGM - Conference Call 27-May-23   09:34 )
  Gateway Distriparks to declare Quarterly Result
 ( Corporate News - 16-Jan-23   17:27 )
  Gateway Distripark
 ( Analyst Meet / AGM - Conference Call 03-Aug-23   05:15 )
  Gateway Distriparks consolidated net profit rises 23.60% in the September 2023 quarter
 ( Results - Announcements 09-Nov-23   12:31 )
  Gateway Distriparks to table results
 ( Corporate News - 24-May-23   15:54 )
  Board of Gateway Distriparks recommends Second Interim dividend
 ( Corporate News - 14-Feb-24   16:36 )
  Gateway Distriparks announces board meeting date
 ( Corporate News - 22-Jul-23   11:01 )
Other Stories
  Apollo Hospitals Enterprise
  04-Jun-24   10:04
  ITL Industries
  01-Jun-24   02:14
  International Combustion (India)
  31-May-24   11:32
  Fluidomat
  31-May-24   11:28
  ISGEC Heavy Engineering
  31-May-24   11:24
  Sreeleathers
  31-May-24   11:20
  Cummins India
  31-May-24   11:18
  Bata India
  31-May-24   09:55
  Tata Steel
  31-May-24   08:36
  India Nippon Electricals
  31-May-24   07:03
Back Top