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Gateway Distriparks reported an 18 per cent year-on-year decline in its consolidated profit after tax for the first quarter of the current financial year, mainly due to the continued impact of the West Asia conflict, higher fuel prices and rising operating costs. While revenue remained almost unchanged, EBITDA also witnessed a marginal decline. The company said global uncertainties affected consumption and production during the quarter. Despite near-term challenges, Gateway Distriparks is moving ahead with capacity expansion through its Indore Inland Container Depot, the Ankleshwar Multi Modal Logistics Park and subsidiary Snowman Logistics.
Gateway Distriparks reported a consolidated Profit After Tax (PAT) of INR 51.3 crore for the first quarter of the current financial year, registering a decline of 18 per cent from INR 62.2 crore reported in the corresponding quarter of the previous financial year.
The company's total revenue remained largely stable during the quarter, slipping marginally to INR 553.7 crore from INR 554.1 crore recorded in the same period last year.
Operating performance also saw a slight decline. Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) stood at INR 121.5 crore, compared with INR 123 crore in the year-ago quarter, reflecting a year-on-year decline of around 1.3 per cent.
Commenting on the quarterly performance, Chairman and Managing Director Prem Kishan Dass Gupta said the ongoing conflict in West Asia continued to affect operations during the quarter, resulting in equipment imbalances and higher empty container movement. He added that higher fuel prices, revisions in minimum wages and increased input costs also impacted the company's performance, although the overall results remained broadly in line with the corresponding quarter of the previous financial year.
Gupta further said that consumption and production activities remained subdued due to uncertainty in the global economic environment. However, he noted that the company continues to remain optimistic about its long-term growth prospects and is focused on expanding its logistics network.
As part of its expansion plans, construction work has commenced at the company's Indore Inland Container Depot (ICD). In addition, the Ankleshwar Multi Modal Logistics Park has received customs approval to handle export-import (EXIM) cargo and is expected to begin commercial operations in September, as planned.
The company also highlighted the progress of its cold chain subsidiary, Snowman Logistics, which is continuing its expansion programme. According to the management, the subsidiary remains on track to increase its storage capacity to 1,70,000 pallets by the middle of next year.
Gateway Distriparks is one of India's integrated logistics companies, providing rail transportation, container freight station (CFS), inland container depot (ICD) and cold chain logistics services. In recent years, the company has focused on strengthening its multimodal logistics network through infrastructure expansion and improved connectivity to support growing EXIM trade and domestic cargo movement.
Source PTI
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