Gateway Distriparks registers 207% growth in revenue
November 15, 2019: Gateway Distriparks Limited recorded a total income of Rs328.6 crore in the second quarter as against Rs107.1 crore for the same period in the last year, registering a growth of 207 percent.
November 15, 2019: Gateway Distriparks Limited recorded a total income of Rs328.6 crore in the second quarter as against Rs107.1 crore for the same period in the last year, registering a growth of 207 percent. EBITDA increased by 247% to Rs75 crore for the Q2 current year from Rs21.6 crores in Q2 previous year.
“The increase is due to the consolidation of results as GDL increased its shareholding in GatewayRail. Consequently, GatewayRail is now a subsidiary of GDL. Consolidated PBT reduced by 23 percent to INR 15.8 crore from INR 20.6 Crores. Consolidated PAT before minority decreased by 1.3 percent to INR 17.2 Crores from INR 17.4 Crores in the corresponding quarter of the previous year,” reads the press release.
”We are very buoyant and optimistic about the company’s performance and with the sale of Chandra CFS we are on track for the debt reduction strategy of the company,” said Prem Kishan Gupta, chairman & managing director.
Gateway Distriparks to sell Chandra CFS to Team Global
The company has entered into a share purchase agreement to sell its subsidiary - Chandra CFS & Terminal Operators Private Limited – in Chennai to Team Global Logistics Private Limited, for Rs47 crore.
Gupta commented, “Gateway Distriparks is looking to consolidate its position in Chennai by working out of a single facility, and the net proceeds from this sale will go entirely towards the reduction of debt.”
Gateway Rail Freight Limited recorded total Income of Rs228.5 crore as against Rs208.5 crore for the same period in the previous year. EBITDA increased to INR 48.2 Crores from INR 40.5 Crores. PBT increased to INR 23.2 crores from INR 22.4 crores and PAT increased to INR 27.1 Crores from Profit of INR 19.7 Crores in the corresponding quarter of the previous year.
Snowman Logistics Limited recorded revenue of Rs59.4 crore as against Rs57.9 crore for the same period in the previous year. EBITDA increased to Rs16.1 crore from Rs14.5 crore. The company recorded a loss of Rs1.3 crore against Profit of Rs1.2 crore in the corresponding quarter of the previous year. The decrease is on account of higher depreciation Rs2.3 crore, as a result of the impact of Ind-AS 116.
Gupta added “Indian logistics sector is presently estimated to be worth around $160 billion and is poised to grow exponentially over the next two years and reach a size of $215 billion by 2020. The government’s infallible commitment towards developing the logistic sector is visible with several transformative reforms in the sector with the proposed National logistic Policy. Initiatives like Bharatmala and Sagarmala are key steps taken in the direction towards strengthening the land and maritime infrastructure. The high-speed, freight-only Dedicated Freight Corridor Project aims at decongesting a heavily saturated road network and reducing freight transit times while opening up the development of manufacturing and industrial clusters.”
GDL Group is an integrated inter-modal logistics service provider having three verticals. It operates 7 Container Freight Stations in Nhava Sheva, Chennai, Vizag, Kochi and Krishnapatnam.
GatewayRail provides rail transport service through it 4 Inland Container Depots (ICD) at Gurgaon, Faridabad, Ludhiana, Ahmedabad and Domestic Container Terminal (DCT) at Navi Mumbai.
GDL and GatewayRail together have a capacity to handle 2.1 million TEUs per annum with 31 train sets, 500+ trailers and warehousing space of 1.73 million square feet across its 12 Container Terminals.
Snowman Logistics Limited (SLL), it's third vertical, is India’s leading cold chain logistics company with Pan India presence at 31 locations in 15 cities.