Gateway Distriparks registers 207% growth in Revenue, EBITDA up 247% in Q2

MUMBAI: During the quarter ended September 30, 2019, Gateway Distriparks Limited (GDL) recorded consolidated Total Income of INR. 328.6 Crores as against INR 107.1 Crores for the same period in the previous year, registering a growth of 207%. Consolidated EBITDA increased by 247% to INR 75 Crores for the Q2 current year from INR 21.6 Crores in Q2 previous year. The increase is due to the consolidation of results as GDL increased its shareholding in GatewayRail. Consequently, GatewayRail is now a subsidiary of GDL. Consolidated PBT reduced by 23% to INR 15.8 Crores from INR 20.6 Crores. Consolidated PAT before minority decreased by 1.3% to INR 17.2 Crores from INR 17.4 Crores in the corresponding quarter of the previous year.

Gateway Rail Freight Limited recorded Total Income of INR 228.5 Crores as against INR 208.5 Crores for the same period in the previous year. EBITDA increased to INR 48.2 Crores from INR 40.5 Crores. PBT increased to INR 23.2 crores from INR 22.4 Crores and PAT increased to INR 27.1 Crores from Profit of INR 19.7 Crores in the corresponding quarter of the previous year.

Snowman Logistics Limited recorded revenue of INR 59.4 crores as against INR 57.9 crores for the same period in the previous year. EBITDA increased to INR 16.1 Crores from

INR 14.5 Crores. The Company recorded a loss of INR 1.3 Crores against Profit of INR 1.2 Crores in the corresponding quarter of the previous year. The decrease is on account of higher depreciation INR (2.3) crores, as a result of impact of Ind-AS 116.

Commenting on the results, Mr. Prem Kishan Gupta, Chairman & Managing Director, said “Indian logistics sector is presently estimated to be worth around $160 billion and is poised to grow exponentially over the next two years and reach a size of $215 billion by 2020. The Government’s infallible commitment towards developing the logistic sector is visible with several transformative reforms in the sector with the proposed National logistic Policy. Initiatives like Bharatmala and Sagarmala are key steps taken in the direction towards strengthening the land and maritime infrastructure. The high-speed, freight-only Dedicated Freight Corridor Project aims at decongesting a heavily saturated road network and reducing freight transit times while opening up the development of manufacturing and industrial clusters.

He further added, “We are very buoyant and optimistic about the company’s performance and with the sale of Chandra CFS we are on track for the debt reduction strategy of the Company.”

GDL Group is an integrated Inter-Modal Logistics service provider having three verticals. It operates 7 Container Freight Stations in Nhava Sheva, Chennai, Vizag, Kochi and Krishnapatnam. GatewayRail, India’s largest private intermodal operator, provides rail transport service through it 4 Inland Container Depots (ICD) at Gurgaon, Faridabad, Ludhiana, Ahmedabad and Domestic Container Terminal (DCT) at Navi Mumbai. GDL and GatewayRail together have a capacity to handle 2.1 million TEUs per annum with 31 train sets, 500+ trailers and warehousing space of 1.73 million square feet across its 12 Container Terminals. Snowman Logistics Limited (SLL), it's third vertical, is India’s leading cold chain logistics company with Pan India presence at 31 locations in 15 cities.