Gateway Distriparks posts Rs 190.97 cr loss for March quarter

Mumbai, May 27 (PTI) Multi-modal logistics operator Gateway Distriparks Ltd (GDL) on Tuesday posted a loss of Rs 190.97 crore in the March quarter against a profit of Rs 56 crore in the same quarter a year ago.

Total income rose by 43 per cent to Rs 534.94 crore in the last quarter of FY25 from Rs 374.97 crore recorded in the last quarter of FY24, the company said.

Profit after tax includes an exceptional item of Rs 258.79 crore for Q4 FY25 due to fair valuation of equity on consolidation of Snowman Logistics Limited, which became a subsidiary from December 24, 2024, GDL said. For FY2024-25, profit after tax grew 44.72 per cent at Rs 373.76 crore as against Rs 258.27 crore in FY24, it said.

"Despite the Red Sea impact, especially in Q1, volumes and margins have recovered and remained steady in Q2 and Q3 for the company. There is a healthy pipeline as the focus remains on increasing our market share, especially in the rail vertical," said Prem Kishan Dass Gupta, Chairman and Managing Director GDL.

He said the company is hopeful that the Red Sea crisis will come to an end soon and if shipping lines start using this route again there will be a significant boost to EXIM volumes for India.

"We continue to explore opportunities for developing new rail terminals to further expand our network. In December, GDL also met its target of crossing 50 PER CENT shareholding in Snowman Logistics and is now a subsidiary," said Gupta. PTI IAS MR