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Consolidated net sales (including other operating income) of Gateway Distriparks for the quarter ended Sep 2023 has increased 10.97% to Rs 398.53 crore. Operating profit margin has declined from 26.70% to 25.90%, leading to 7.67% rise in operating profit to Rs 103.23 crore. Employee cost increased from 4.37% to 4.75%. Other expenses rose from 68.93% to 69.35%. Other direct service cost fell from 62.53% to 62.32%. Other income rose 3.96% to Rs 2.89 crore. PBIDT rose 7.56% to Rs 106.12 crore. Provision for interest rose 2.75% to Rs 11.58 crore. PBDT rose 8.18% to Rs 94.54 crore. Provision for depreciation fell 13.35% to Rs 23.1 crore. Profit before tax grew 17.64% to Rs 71.44 crore. Share of profit/loss was 22.22% higher at Rs 1.32 crore. Provision for tax was credit of Rs 0.74 crore, compared to debit of Rs 2.28 crore. Effective tax rate was negative 1.02% compared to 3.69%. Minority interest increased 6.38% to Rs 0.50 crore. Net profit attributable to owners of the company increased 23.60% to Rs 73.00 crore. For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Gateway Distriparks for the half year ended Sep 2023 has increased 9.29% to Rs 768.21 crore. Operating profit margin has declined from 26.08% to 25.86%, leading to 8.37% rise in operating profit to Rs 198.63 crore. Employee cost increased from 4.62% to 4.89%. Other expenses fell from 69.31% to 69.26%. Other direct service cost fell from 62.41% to 62.14%. Other income rose 28.80% to Rs 8.05 crore. PBIDT rose 9.04% to Rs 206.68 crore. Provision for interest fell 0.91% to Rs 22.84 crore. PBDT rose 10.42% to Rs 183.84 crore. Provision for depreciation fell 8.03% to Rs 47.98 crore. Profit before tax grew 18.84% to Rs 135.86 crore. Share of profit/loss was 41.21% higher at Rs 2.57 crore. Provision for tax was debit of Rs 1.2 crore, compared to credit of Rs 1.84 crore. Effective tax rate was 0.87% compared to negative 1.58%. Minority interest decreased 4.48% to Rs 1.28 crore. Net profit attributable to owners of the company increased 16.56% to Rs 135.95 crore.
Management Comments :
Prem Kishan Gupta, Chairman and Managing Director, commented, "The Company has recorded good performance this quarter, sustaining growth amidst the fluctuations typical of the current economic landscape. The strategic measures we have implemented in our rail network, particularly focusing on container hubbing and double stacking, have been pivotal in managing the prevailing import-export imbalance. In recognition of the long-term prospects of EXIM volumes, we are strategically expanding our assets. Starting with this month, we are augmenting our train fleet with an additional three trains. The first train will be delivered this month and the other two over the remainder of the financial year. Furthermore, we have increased our vehicle fleet by 60 to ensure seamless first and last mile connectivity for our clients. Our Jaipur container terminal is under construction and we continue to evaluate new locations for expanding our rail network further. While we navigate the complexities of a turbulent global economy, we approach the future with cautious optimism and an unwavering focus on strategic and sustainable growth." Others Equity capital stood at Rs 499.64 crore as of 30 September 2023 to Rs 499.64 crore as of 30 September 2022. Per share face Value remained same at Rs 10.00. Promoters’ stake was 32.32% as of 30 September 2023 ,compared to 32.12% as of 30 September 2022 . Loan funds declined from Rs 535.07 crore as of 30 September 2022 to Rs 510.78 crore as of 30 September 2023. Sundry debtors were higher at Rs 147.91 crore as of 30 September 2023 compared to Rs 119.62 crore as of 30 September 2022. Cash and bank balance declined from Rs 90.50 crore as of 30 September 2022 to Rs 37.24 crore as of 30 September 2023. Investments declined from Rs 196.19 crore as of 30 September 2022 to Rs 158.47 crore as of 30 September 2023. Fixed assets increased to Rs 1,581.53 crore as of 30 September 2023 from Rs 1,471.23 crore as of 30 September 2022. Intangible assets increased from Rs 317.21 crore to Rs 348.99 crore.
| Gateway Distriparks : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
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| Particulars | 202309 | 202209 | Var.(%) | 202309 | 202209 | Var.(%) | 202303 | 202203 | Var.(%) |
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| Net Sales (including other operating income) | 398.53 | 359.13 | 10.97 | 768.21 | 702.88 | 9.29 | 1,420.94 | 1,373.66 | 3.44 | | OPM (%) | 25.90 | 26.70 | -80 bps | 25.86 | 26.08 | -22 bps | 25.93 | 26.83 | -90 bps | | OP | 103.23 | 95.88 | 7.67 | 198.63 | 183.29 | 8.37 | 368.45 | 368.54 | -0.02 | | Other Inc. | 2.89 | 2.78 | 3.96 | 8.05 | 6.25 | 28.80 | 22.09 | 33.16 | -33.38 | | PBIDT | 106.12 | 98.66 | 7.56 | 206.68 | 189.54 | 9.04 | 390.54 | 401.70 | -2.78 | | Interest | 11.58 | 11.27 | 2.75 | 22.84 | 23.05 | -0.91 | 45.30 | 64.70 | -29.98 | | PBDT | 94.54 | 87.39 | 8.18 | 183.84 | 166.49 | 10.42 | 345.24 | 337.00 | 2.45 | | Depreciation | 23.1 | 26.66 | -13.35 | 47.98 | 52.17 | -8.03 | 103.94 | 127.67 | -18.59 | | PBT | 71.44 | 60.73 | 17.64 | 135.86 | 114.32 | 18.84 | 241.3 | 209.33 | 15.27 | | Share of Profit/(Loss) from Associates | 1.32 | 1.08 | 22.22 | 2.57 | 1.82 | 41.21 | 4.98 | 0.79 | 530.38 | | PBT before EO | 72.76 | 61.81 | 17.72 | 138.43 | 116.14 | 19.19 | 246.28 | 210.12 | 17.21 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 72.76 | 61.81 | 17.72 | 138.43 | 116.14 | 19.19 | 246.28 | 210.12 | 17.21 | | Taxation | -0.74 | 2.28 | LP | 1.2 | -1.84 | PL | 4.38 | -13.7 | PL | | PAT | 73.5 | 59.53 | 23.47 | 137.23 | 117.98 | 16.32 | 241.9 | 223.82 | 8.08 | | Minority Interest (MI) | 0.5 | 0.47 | 6.38 | 1.28 | 1.34 | -4.48 | 2 | 0.03 | 6,566.67 | | Net profit | 73 | 59.06 | 23.60 | 135.95 | 116.64 | 16.56 | 239.9 | 223.79 | 7.20 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 73 | 59.06 | 23.60 | 135.95 | 116.64 | 16.56 | 239.9 | 223.79 | 7.20 | | EPS (Rs)* | 1.45 | 1.18 | 22.37 | 2.72 | 2.30 | 18.40 | 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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