Gateway Distriparks Limited reports Rs 80.9 crore as standalone revenue
Gateway Distriparks Limited (GDL) has reported a stable Rs 80.9 crore as its standalone revenue for the Q-1 FY 18 as against Rs80.3 crore in Q1FY2017. The company witnessed an increase in PAT at Rs 12.0 crore as compared to 9.7 crore of Q1 FY17.
August 11, 2017: Gateway Distriparks Limited (GDL) has reported a stable Rs 80.9 crore as its standalone revenue for the Q-1 FY 18 as against Rs80.3 crore in Q1FY2017. The company witnessed an increase in PAT at Rs 12.0 crore as compared to 9.7 crore of Q1 FY17. Further, GDL CFS at Krishnapatnam - which commenced operations in March 2017, has achieved positive numbers at the operating level in Q-1. Also, operations are being stepped up at the recently commissioned Viramgam terminal of GatewayRail and it will contribute to the operational efficiency of the company besides lowering the costs.
Due to the large investment of over Rs 100 Crores committed to GDL CFS at Krishnapatnam, Interest & Depreciation charges were higher by about Rs 1 crore, said the company in a press release.
“With new facilities commencing operations in each of the business verticals, GDL Group is expanding its footprint of best-in-class infrastructure and continues to be the market leader with its reliable service. Throughout 2017, we contented with various regional & macro-level economic challenges that impacted the sector and the operating and financial performance of the company. However, post-GST we are well positioned to service the organised sector and will benefit from better turnaround times in road transport as well,” said Prem Kishan Dass Gupta, Chairman and Managing Director, GDL.
He further said, “During the fiscal year we have embarked on a mission to increase capacities in our network and bring value to the supply chain of our customers, keeping in mind that as the country's macro-level situation improves then trade volume will also increase. We have also undertaken several technology initiatives to upgrade our systems and improve operational efficiencies. With new addition to our team across the businesses, we are positive to deliver profitable results to our valuable shareholders in the coming quarters.”