Gateway Distriparks Q1 PAT soars 281 pc to Rs 44 cr

Consolidated income during the April-June period increased to Rs 332.24 crore over Rs 254.32 crore in the year-ago period, the filing said.The strong growth registered in volumes, revenue and profit in the first quarter has already set the course for a good year for the company.

Gateway Distriparks Ltd (GDL), a leading integrated inter-modal logistics facilitator, on Wednesday reported a 280.6 per cent rise in consolidated profit after tax (PAT) at Rs 43.59 crore for the quarter ended June 30, 2021.

The company had posted a consolidated PAT of Rs 11.45 crore in the year-ago period, Gateway Distriparks said in a filing to BSE. Consolidated income during the April-June period increased to Rs 332.24 crore over Rs 254.32 crore in the year-ago period, the filing said.

''The strong growth registered in volumes, revenue and profit in the first quarter has already set the course for a good year for the company. Boost in business on multiple fronts augurs well in achieving a stupendous growth for the current fiscal year. ''Keeping in view the aim of improving overall volumes, we are working to expand our customer base which will generate further value for our shareholders,'' the company's Chairman and Managing Director Prem Kishan Dass Gupta said.

With an improving COVID-19 situation and vaccination picking up across the country, he said the company is confident of a rapid growth in the near future in EXIM (export-import) business.

''With the proposed merger of Gateway Distriparks Ltd, Gateway Rail Freight Ltd and Gateway East India Private Ltd, the entity after restructuring of the business is further going to optimise its functioning and financials in the times to come,'' he added.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)