Gateway Distriparks announces Profit After Tax of Rs. 12 crore in Q1 FY 2018

Posted by Daily Shipping Times on 24-08-2017        Tweet

NEW DELHI: Gateway Distriparks announced its “Stand-Alone” financial results for Q-1 FY 18.

The company has witnessed an increase in PAT at Rs 12 cr as compared to 9.7 cr of Q1 FY17. GDL CFS at Krishnapatnam - which commenced operations in March 2017 has achieved positive numbers at the operating level in Q-1.

Operations are being stepped up at the recently commissioned Viramgam terminal of Gateway Rail 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 cr.

Mr. Prem Kishan Dass Gupta, Chairman & Managing Director, said, “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.” 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.”