Gateway Distriparks Q3FY24 Consolidated PAT up 16.34% QoQ to Rs 64.35 Crores

Gateway Distriparks Limited (GDL), a leading integrated intermodal logistics facilitator in India, today announced its financial results for the October to December quarter of the current financial year.

Revenue Growth:

In Q3 FY 24, Gateway Distriparks recorded a total revenue of Rs. 394.87 Crores, marking a significant increase of 14.80% compared to the same period last year. This growth was primarily driven by a notable increase in Rail Revenue, which surged by 20.16% year-on-year. The Rail segment has continued to be a key revenue driver for the company, demonstrating its strong position in the rail logistics market.

Segment Performance:

While Rail Revenue witnessed robust growth, CFS Revenue experienced a slight decline of 4.61% compared to Q3 FY 23. However, it's essential to note that despite the dip in CFS Revenue, the overall Total Revenue for Gateway Distriparks showed a healthy growth trajectory, underscoring the diversified nature of the company's revenue streams.

Enhanced Profitability:

Gateway Distriparks also reported improved profitability metrics during the quarter, with EBIDTA and PBT increasing by 6.29% and 12.04%, respectively, compared to the same period last year. The company's PAT (Profit After Tax) surged by an impressive 16.34%, reflecting its ability to efficiently manage costs while driving top-line growth.

Year-to-Date Performance:

Looking at the year-to-date (YTD) performance, Gateway Distriparks continued its growth momentum, with Total Revenue for the first nine months of FY 24 reaching Rs. 1,171.14 Crores, representing a solid growth of 11.30% over the corresponding period in the previous fiscal year. The company's PBT and PAT for YTD FY 24 also registered strong double-digit growth, indicating sustained operational excellence and financial resilience.

Further, the Board of Directors approved the payment of Second Interim Dividend of Rs. 0.75 (Seventy Five Paise) per equity share of face value Rs. 10 each, for FY24.

Prem Kishan Gupta, Chairman and Managing Director, commented, "Amid challenging economic conditions, particularly in the export sector, our company has effectively mitigated impacts through our network advantage and strategic hubbing of containers. This approach enables us to fully leverage the Western Dedicated Freight Corridor. As a result, we are witnessing growth across various metrics including throughput, revenue, EBITDA, and PAT. In anticipation of increased volumes in the coming quarters, the company is in the process of enhancing its rail side capacity and will be bringing its total number of trains to 34 by the end of the financial year."

Source : Equity Bulls

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GatewayDistriparks Q3FY24 9MFY24 ResultUpdate