Shares Gateway Distriparks Limited (GDL) hit a fresh 52-week high of Rs 258.85 after rallying 12 per cent on the BSE in intra-day trade on Tuesday. The stock has now surged 51 per cent in the past six trading days, after the company reported four-fold jump in consolidated net profit at Rs 46.60 crore in the March quarter (Q4FY21). The company, an integrated inter-modal logistics service provider, had posted profit of Rs 11.69 crore during the quarter of previous fiscal.
The company s total income grew 16 per cent to Rs 353 crore from Rs 304 crore in the corresponding quarter of previous fiscal. The company’s rail container business recorded highest ever monthly throughput of 26,426 twenty-foot equivalent units (TEUs) in March ’21. Earnings before interest, taxes, depreciation, and amortization (Ebitda) margins expanded 490 basis points (bps) to 27.8 per cent.
Integrated inter-modal logistics company Gateway Distriparks has reported an about four-fold increase in consolidated net profit to Rs 46.60 crore for the March quarter on the back of strong recovery in throughput and realisations. The company had posted a consolidated net profit of Rs 11.69 crore in Q4 FY20, according to a statement. Total income rose 16.1 per cent to Rs 353.11 crore as against Rs 304.18 crore in the March quarter of fiscal 2019-20. The company operates four container freight stations at Navi Mumbai, Chennai, and Krishnapatnam. Two container freight stations are being operated at Kochi and Visakhapatnam through its subsidiaries, Gateway Distriparks (Kerala) Ltd and Gateway East India Pvt Ltd, respectively.
Gateway Distriparks Q4 profit at Rs 47 crore, reduces debt by Rs 237 crore ANI | Updated: Apr 27, 2021 14:32 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.
Railways looks to bag 45% of ports traffic by 2030
Railways looks to bag 45% of ports traffic by 2030
NEW DELHI: The railways has set a target to bag around 45 per cent of the traffic from ports by 2030, as compared to the 27 per cent it carries currently, says the National Rail Plan.
According to the plan, the overall traffic handled at major ports is likely to increase from the present 700 MT to 925 MT by 2026 and 1,400 million tonnes by 2030. In order to meet the growing demand, the Indian Railways has undertaken some works on top priority with targeted completion by 2024.
These works include the Chennai Beach Attipattu line (Kamarajar port), Kanaknadi Panambur line (New Mangaluru port), Raipur Titlagarh Doubling (Vishakapatnam), Madurai Tuticorin Doubling (Tuticorin), Titlagarh Sambalpur Doubling (Paradip), Banspani Daitri Jakhapur Doubling (Paradip), Sambalpur Talcher Doubling (Paradip), Hospet Tenaighat Vasco Doubling (Marmugao), Budhapank Salegaon 3rd and 4th line (Paradi
On the Slow Coach
Fifteen years in the making, only 650 km of the dedicated freight corridor has opened. Meeting the 3,381-km target by June 2022 appears a distant dream
Prime Minister Narendra Modi inaugurated two sections of dedicated freight corridors (DFCs) in quick succession in December 2020 and January 2021. Immediately after, videos of kilometres long double-stack container trains chugging on the new lines emerged on social media handles of Ministry of Railways and Railway Minister Piyush Goyal. The trains hit top speed of 93 km per hour and average speed of 67 km per hour as against 23 km per hour clocked by a normal goods train in India.