ANI
22 Jan 2020, 15:57 GMT+10
Mumbai (Maharashtra) [India], Jan 22 (ANI): Logistics major Gateway Distriparks Ltd (GDL) on Wednesday reported consolidated total income of Rs 305 crore in the October to December quarter as against Rs 105 crore in the same period of last year, marking a growth of 190 per cent.
The earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 210 per cent to Rs 66 crores for the Q3 current year from Rs 21 crores in Q3 previous year. The increase was due to the consolidation of results as GDL increased its shareholding in Gateway Rail.
GDL's consolidated profit before tax reduced by 26 per cent to Rs 14.4 crore from Rs 19.5 crore while profit after tax before minority increased to Rs 16.4 crore from Rs 16.3 crore in the corresponding quarter of the previous year.
Meanwhile, Gateway Rail Freight Ltd recorded total income of Rs 214 crore for the quarter as against Rs 193 crore for the same period in the previous year.
EBITDA increased to Rs 45 crore from Rs 36 crore and profit before tax increased to Rs 20 crore from Rs 17.7 crore while profit after tax increased to Rs 19 crore from Rs 16 crore in the corresponding quarter of previous year.
Chairman and Managing Director Prem Kishan Gupta said the company is on track towards debt reduction strategy by completing the transaction for sale of Chandra CFS and entering into a share purchase agreement for sale of our entire stake in Snowman Logistics, which is expected to be closed during the financial year.
"Now GDL will focus on unifying its operations between the container freight stations, inland container depots and rail businesses. This will bring efficiencies by leveraging our combined assets and management, as well as allow us to offer solutions to our customers on a single platform," he said in a statement.
The GDL Group is an integrated inter-modal logistics service provider operating six container freight stations in Nhava Sheva, Chennai, Vishakhapatnam, Kochi and Krishnapatnam.
Gateway Rail is India's largest private intermodal operator providing rail transport service through four inland container depots at Gurgaon, Faridabad, Ludhiana, Ahmedabad and a domestic container terminal at Navi Mumbai.
GDL and Gateway Rail together have a capacity to handle over two million TEUs (twenty-foot equivalents) per annum with 31 train sets and 500-plus trailers across 11 container terminals.
(ANI)Get a daily dose of International Technology news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to International Technology.
More InformationPort of Spain [Trinidad and Tobago], July 5 (ANI): Prime Minister Narendra Modi paid an official visit to Trinidad and Tobago from...
Port of Spain [Trinidad and Tobago], July 5 (ANI): During his visit to Trinidad and Tobago Prime Minister Narendra Modi made a number...
Port of Spain [Trinidad and Tobago] July 5 (ANI): India and Trinidad and Tobago have signed six agreements during Prime Minister Narendra...
President Trump has ordered higher entrance fees for foreign visitors to U.S. national parks, sparking concerns from environmental...
Bhopal (Madhya Pradesh) [India], July 4 (ANI): Chief Minister Mohan Yadav on Friday transferred Laptop grants worth Rs 235.58 crore...
NANNING/GUANGZHOU, July 4 (Xinhua) -- Hidden for years in a flowerpot behind Zhan Pu's childhood home in the southern Chinese city...
The billionaire has vowed to give freedom back to the people and accused the US elites of bankrupting the nation ...
Patna (Bihar) [India], July 5 (ANI): Jan Suraaj Party founder Prashant Kishor on Saturday raised concerns over the rising crime incidents...
Patna (Bihar) [India], July 5 (ANI): BJP leader Ravishankar Prasad on Saturday said he was 'saddened' over the murder of businessman...
Hyderabad (Telangana) [India], July 5 (ANI): Social media abuse of children must be treated without mercy for the culprits, said Telangana...
Patna (Bihar) [India], June 5 (ANI): Following the murder of prominent businessman Gopal Khemka, Bihar Director General of Police (DGP)...
(Photo credit: Isaiah J. Downing-Imagn Images) Colorado coach Deion Sanders, who has been suffering from an undisclosed medical condition,...