Gateway Distriparks posts poor results in Q3FY16
DSIJ Intelligence / 04 Feb 2016
Gateway Distriparks (GDL) declared its Q3FY16 on February,03. The company's topline decreased by 2.05 per cent to Rs 268 crore in Q3FY16 as compared to same period in previous financial year.
Gateway Distriparks (GDL) declared its Q3FY16 on February,03. The company's topline decreased by 2.05 per cent to Rs 268 crore in Q3FY16 as compared to same period in previous financial year. Its total expenditure increased by 9.58 per cent to Rs 205 crore in Q3FY16 on a yearly basis. GDL's total expenditure increased mainly due to a 15.48 per cent increment in Rail Transportation during the quarter.
GDL's EBITDA decreased by 27.28 per cent to Rs 63 crore in Q3FY16 as compared to same period in previous fiscal year.The company's EBITDA margin contracted by 813 basis points to 23.43 per cent in Q3FY16 on a yearly basis. Its net profit dropped by 43.07 per cent to Rs 30.94 crore in Q3FY16 as compared to same period in previous financial year. GDL's net profit margin contracted by 832 basis points to 11.54 per cent in Q3FY16 on a yearly basis due to the impact of Chennai rains on business.
On segmental revenue front, GDL earned 70.82 per cent from Rail Logistics segment; and remaining 29.18 per cent from container Freight Station segment during December 2015 quarter.
Considering nine month financials, GDL's revenue decreased by 6.27 per cent to Rs 793 crore in 9MFY16 as compared to same period in previous financial year. The company's EBITDA too reduced by 0.72 per cent to Rs 199 crore in 9MFY16 on a yearly basis. Its net profit decreased by 40.18 per cent to Rs 83 crore in 9MFY16 as compared to same period in previous fiscal year.
GDL started construction at Krishnapatnam, and plans to start operations within the year. According to the company's management, it is actively looking to expand further in new locations where potential of container volume growth is possible.
The share price of GDL declined by 1.81 per cent on bourses in early trades; and is trading at Rs 272.3 on an intraday basis.
GDL is an integrated logistics facilitator in India. The company's primary business is to operate container freight stations. It has three business segments viz. Container Freight Station; Rail Logistics; and Cold Chain and related Logistics. GDL's extensive infrastructure includes 19 warehouses and more than 100 owned and leased reefer vehicles and transport assets. Gateway Rail owns and operates a fleet of 21 trains and over 235 road trailers at its rail linked terminals.
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