Gateway Distriparks consolidated net profit rises 43.97% in Q3FY22

15 Feb 2022 , 09:09 AM

Gateway Distriparks Limited (GDL), a leading integrated inter-modal logistics facilitator in India, announced its unaudited financial results for the December quarter of the current financial year.

The net profit rose 44.2% to Rs47.92 crore in the quarter ended December 2021 as against Rs33.24 crore during the previous quarter ended December 2020.

Total sales also increased by 12.6% to Rs316.29 crore in the quarter ended December 2021 as against Rs316.29 crore during the previous quarter ended December 2020.

In the filing, the company has updated about its merger that with effect from 28th December 2021, Gateway East India Private Limited and Gateway Distriparks Ltd have merged with Gateway Rail Freight Limited. Subsequently, on 11th February 2022, Gateway Rail Freight Limited changed its name to Gateway Distriparks Limited.

The Net Debt as on December 31, 2021 stands at Rs373.87 crore as against Rs440.91 crore as on September 30, 2021.

Mr. Prem Kishan Das Gupta, Chairman & Managing Director, commented, “I am happy to announce that we have completed our amalgamation process and now our Rail, ICD and CFS businesses are all under one umbrella — Gateway Distriparks Limited. In the new entity, we are now able to offer a pan India network of ICD and CFS to shipping lines and EXIM customers. In addition, we have a stronger balance sheet and combined cash flows of all businesses available for funding our expansion plans, which we are planning primarily in the North to West industrial corridor for setting up new ICDs. The company has delivered another successful quarter with sustained growth and increased revenue and we foresee this positive trend to continue going ahead.”