Gateway Distriparks Q4 profit at Rs 47 crore, reduces debt by Rs 237 crore
Mumbai (Maharashtra) [India], April 27 (ANI): Logistics major Gateway Distriparks Ltd (GDL) said on Tuesday its Q4 FY21 consolidated profit after tax jumped by 299 per cent to Rs 47 crore from Rs 12 crore in the same period of previous fiscal.
ANI
Apr 27, 2021 14:27 IST
Mumbai (Maharashtra) [India], April 27 (ANI): Logistics major Gateway Distriparks Ltd (GDL) said on Tuesday its Q4 FY21 consolidated profit after tax jumped by 299 per cent to Rs 47 crore from Rs 12 crore in the same period of previous fiscal.
At the same time, earnings before interest, tax, depreciation and amortisation (EBITDA) moved up 41 per cent from Rs 70 crore to Rs 98 crore. Total income rose by 16 per cent to Rs 353 crore in the quarter ended March as compared to Rs 304 crore in Q4 FY20.
More significantly, the company managed to reduce its net debt by Rs 237 crore in FY21 to Rs 444 crore. The board of directors has approved an interim dividend of Rs 5 per share.
Chairman and Managing Director Prem Kishan Dass Gupta said the company witnessed a sharp recovery in overall volumes for both container freight stations and rail container business from Q3 onwards.
The container freight station business recorded a peak throughput of 33,793 TEUs in March while the rail container business recorded highest-ever monthly throughput of 26,426 TEUs, he said.
"Our efforts towards strengthening balance sheet through reducing debt continues and will enable us to start working on our next phase of expansion of container terminals alongside the Western Dedicated Freight Corridor," said Gupta.
The GDL Group is an integrated inter-modal logistics service provider operating six container freight stations in Nhava Sheva, Chennai, Vishakhapatnam, Kochi and Krishnapatnam. It is a major logistics company with three verticals: container freight stations, inland container depots with rail movement, and cold chain storage and logistics.
The group's subsidiary Gateway Rail Frieght is India's largest private intermodal operator providing rail transport service through four inland container depots at Gurgaon, Faridabad, Ludhiana, Ahmedabad and a domestic container terminal at Navi Mumbai. (ANI)
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