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Results
03-Aug-22
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Analysis
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Gateway Distriparks
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net up 32% on lower depreciation and tax writeback
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Consolidated net sales (including other operating income) of Gateway Distriparks for the quarter ended Jun 2022 has increased 4.30% to Rs 343.75 crore. Operating profit margin has declined from 27.06% to 25.42%, leading to 2.02% decline in operating profit to Rs 87.38 crore. Employee cost increased from 4.78% to 4.87%. Other expenses rose from 68.17% to 69.71%. Other direct service cost rose from 61.68% to 62.28%. Other income rose 31.32% to Rs 3.48 crore. PBIDT fell 1.06% to Rs 90.86 crore. Provision for interest fell 26.24% to Rs 11.78 crore. PBDT rose 4.24% to Rs 79.08 crore. Provision for depreciation fell 21.49% to Rs 25.5 crore. Profit before tax grew 23.51% to Rs 53.58 crore. Share of profit/loss was 188.46% higher at Rs 0.75 crore. Provision for tax was credit of Rs 4.12 crore, compared to debit of Rs 0.04 crore. Effective tax rate was negative 7.58% compared to 0.09%. Minority interest increased 2,800% to Rs 0.87 crore. Net profit attributable to owners of the company increased 32.16% to Rs 57.58 crore.
Management Comment
Prem Kishan Dass Gupta, Chairman & Managing Director, commented, “The first quarter has seen the company increase revenue, volumes and market share. The growth could have been higher but there was impact from the lockdowns in China, disrupting the supply chain worldwide affecting the trade. Our focus remains on improving our profitability by increasing volumes, improving operational efficiencies, and further reducing our debt and finance cost. The company is also looking actively to expand into more rail linked ICDs in North India.
Promoters’ stake was 32.12% as of 30 June 2022.
| Gateway Distriparks : Consolidated Results | | | Quarter ended | Year ended |
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| Particulars | 202206 | 202106 | Var.(%) | 202203 | 202103 | Var.(%) |
|---|
| Net Sales (including other operating income) | 343.75 | 329.59 | 4.30 | 1,373.66 | 1,179.32 | 16.48 | | OPM (%) | 25.42 | 27.06 | -164 bps | 26.83 | 26.54 | 29 bps | | OP | 87.38 | 89.18 | -2.02 | 368.54 | 312.97 | 17.76 | | Other Inc. | 3.48 | 2.65 | 31.32 | 33.16 | 11.33 | 192.67 | | PBIDT | 90.86 | 91.83 | -1.06 | 401.70 | 324.30 | 23.87 | | Interest | 11.78 | 15.97 | -26.24 | 64.70 | 79.48 | -18.60 | | PBDT | 79.08 | 75.86 | 4.24 | 337.00 | 244.82 | 37.65 | | Depreciation | 25.5 | 32.48 | -21.49 | 127.67 | 131.42 | -2.85 | | PBT | 53.58 | 43.38 | 23.51 | 209.33 | 113.4 | 84.59 | | Share of Profit/(Loss) from Associates | 0.75 | 0.26 | 188.46 | 0.79 | 0.06 | 1,216.67 | | PBT before EO | 54.33 | 43.64 | 24.50 | 210.12 | 113.46 | 85.19 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 54.33 | 43.64 | 24.50 | 210.12 | 113.46 | 85.19 | | Taxation | -4.12 | 0.04 | LP | -13.7 | 18.98 | LP | | PAT | 58.45 | 43.6 | 34.06 | 223.82 | 94.48 | 136.90 | | Minority Interest (MI) | 0.87 | 0.03 | 2,800.00 | 0.03 | 0.03 | 0 | | Net profit | 57.58 | 43.57 | 32.16 | 223.79 | 94.45 | 136.94 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 57.58 | 43.57 | 32.16 | 223.79 | 94.45 | 136.94 | | EPS (Rs)* | 1.07 | 0.87 | 22.84 | 4.20 | 1.89 | 122.44 | | | * 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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