Gateway Distriparks Ltd Q3FY21 consolidated net profit surges to Rs. 32.74 crore

GATEWAY DISTRIPARKS LTD. has reported financial results for the period ended December 31, 2020.

Financial Results (Q3 FY20-21) - QoQ Comparison

The company has reported total income of Rs.316.29 crores during the period ended December 31, 2020 as compared to Rs.266.95 crores during the period ended September 30, 2020.

The company has posted net profit / (loss) of Rs.32.74 crores for the period ended December 31, 2020 as against net profit / (loss) of Rs.4.22 crores for the period ended September 30, 2020.

The company has reported EPS of Rs.2.76 for the period ended December 31, 2020 as compared to Rs.0.34 for the period ended September 30, 2020.

Financials	Q3 FY20-21	Q2 FY20-21	% Change
Total Income	₹ 316.29 crs	₹ 266.95 crs	18.48%
Net Profit	₹ 32.74 crs	₹ 4.22 crs	675.83%
EPS	₹ 2.76	₹ 0.34	711.76%

Financial Results (Q3 FY20-21) - YoY Comparison

The company has reported total income of Rs.316.29 crores during the period ended December 31, 2020 as compared to Rs.304.47 crores during the period ended December 31, 2019.

The company has posted net profit / (loss) of Rs.32.74 crores for the period ended December 31, 2020 as against net profit / (loss) of Rs.16.51 crores for the period ended December 31, 2019.

The company has reported EPS of Rs.2.76 for the period ended December 31, 2020 as compared to Rs.1.64 for the period ended December 31, 2019.

Financials	Q3 FY20-21	Q3 FY19-20	% Change
Total Income	₹ 316.29 crs	₹ 304.47 crs	3.88%
Net Profit	₹ 32.74 crs	₹ 16.51 crs	98.3%
EPS	₹ 2.76	₹ 1.64	68.29%

Financial Results (9 Months ended FY 20-21) - YoY Comparison

The company has reported total income of Rs.837.57 crores during the 9 months period ended December 31, 2020 as compared to Rs.1005.38 crores during the 9 months period ended December 31, 2019.

The company has posted net profit / (loss) of Rs.48.24 crores for the 9 months period ended December 31, 2020 as against net profit / (loss) of Rs.91.91 crores for the 9 months period ended December 31, 2019.

The company has reported EPS of Rs.4.14 for the 9 months period ended December 31, 2020 as compared to Rs.8.95 for the 9 months period ended December 31, 2019.

Financials	9 Months ended FY20-21	9 Months ended FY19-20	% Change
Total Income	₹ 837.57 crs	₹ 1005.38 crs	-16.69%
Net Profit	₹ 48.24 crs	₹ 91.91 crs	-47.51%
EPS	₹ 4.14	₹8.95	-53.74%

Commenting on the performance, Mr. Prem Kishan Dass Gupta, Chairman & Managing Director, commented, "H1FY21 was impacted by COVID-19-linked disruptions, which had weighed on volumes particularly in Q1FY21. The revival in the EXIM trade has been much faster than anticipated. In Q3FY21, the company witnessed a sharp recovery in its overall volumes for both our CFS and Rail Container business. The improvement in volumes has been seen sequentially every month since the beginning of October 2020. In the month of December 2020, the company recorded the highest ever monthly throughput of 25,676 TEUs in Rail Container business. And in the same month, the CFS business also witnessed close to peak business with 30,085 TEUs.

306 km long Rewari-Madar section of the WDFC (Western Dedicated Freight Corridor) was inaugurated in the first week of January 2021, providing a quantum boost to the freight and logistics of the entire Northern India region. The Rewari-Madar section of the WDFC is situated in the states of Haryana (about 79 kilometres) and Rajasthan (around 227 kilometres). Our intermodal hub at Garhi Harsaru, Gurugram in NCR, is now connected to the Corridor. We became one of the first Intermodal operators to run our train on the newly inaugurated section of the WDFC. The transit time of our trains will reduce significantly, allow higher double stacking of containers and help to provide an even more reliable service to our customers through our North India ICDs at Garhi Harsaru, Faridabad, and Ludhiana.

We expect that the 335-km long Madar-Palanpur section of WDFC is likely to be commissioned by end of Q1 FY22. This will connect the key Gujarat ports of Mundra and Pipavav resulting in increased market share gains for Container Train Operators as against road transporters. This shall benefit us due to our multimodal capabilities to cater our customers who are increasingly demanding integrated logistics solutions.

With most lead industry indicators pointing to a strong demand revival, we anticipate continuous monthon-month momentum in growth of volumes for foreseeable future. Our core servicing sectors such as auto, white goods, steel, agro-products and other industries are witnessing a healthy traction in their businesses. A robust Balance Sheet combined with our strategically located infrastructure alongside the WDFC will help us to capitalize on the future growth opportunities."

Shares of GATEWAY DISTRIPARKS LTD. was last trading in BSE at Rs.115.5 as compared to the previous close of Rs. 118.15. The total number of shares traded during the day was 42145 in over 472 trades.

The stock hit an intraday high of Rs. 118.5 and intraday low of 115.5. The net turnover during the day was Rs. 4942322.

Source : Equity Bulls

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