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Results
03-Aug-23
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Analysis
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Gateway Distriparks
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Sales up 8%, net up 9%
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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 ended | Year ended |
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Particulars | 202306 | 202206 | Var.(%) | 202303 | 202203 | Var.(%) |
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Net Sales (including other operating income) | 369.69 | 343.75 | 7.55 | 1,420.94 | 1,373.66 | 3.44 | OPM (%) | 25.81 | 25.42 | 39 bps | 25.93 | 26.83 | -90 bps | OP | 95.40 | 87.38 | 9.18 | 368.45 | 368.54 | -0.02 | Other Inc. | 5.16 | 3.48 | 48.28 | 22.09 | 33.16 | -33.38 | PBIDT | 100.56 | 90.86 | 10.68 | 390.54 | 401.70 | -2.78 | Interest | 11.26 | 11.78 | -4.41 | 45.30 | 64.70 | -29.98 | PBDT | 89.30 | 79.08 | 12.92 | 345.24 | 337.00 | 2.45 | Depreciation | 24.89 | 25.5 | -2.39 | 103.94 | 127.67 | -18.59 | PBT | 64.41 | 53.58 | 20.21 | 241.3 | 209.33 | 15.27 | Share of Profit/(Loss) from Associates | 1.25 | 0.75 | 66.67 | 4.98 | 0.79 | 530.38 | PBT before EO | 65.66 | 54.33 | 20.85 | 246.28 | 210.12 | 17.21 | EO Income | 0 | 0 | - | 0 | 0 | - | PBT after EO | 65.66 | 54.33 | 20.85 | 246.28 | 210.12 | 17.21 | Taxation | 1.93 | -4.12 | PL | 4.38 | -13.7 | PL | PAT | 63.73 | 58.45 | 9.03 | 241.9 | 223.82 | 8.08 | Minority Interest (MI) | 0.78 | 0.87 | -10.34 | 2 | 0.03 | 6,566.67 | Net profit | 62.95 | 57.58 | 9.33 | 239.9 | 223.79 | 7.20 | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | Net profit after discontinued operations | 62.95 | 57.58 | 9.33 | 239.9 | 223.79 | 7.20 | EPS (Rs)* | 1.26 | 1.07 | 17.62 | 4.80 | 4.20 | 14.19 | | * 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 |
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