Gateway Distriparks Q3 PAT jumps six-fold to Rs 455.52 cr

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Mumbai, Feb 3 (PTI) Multimodal logistics operator Gateway Distriparks Ltd (GDL) on Monday said its profit after tax rose six-fold to Rs 455.52 crore in the October-December quarter compared to the year-ago period.

The company had delivered a profit of Rs 63.54 crore in the third quarter of FY24, GDL said in a statement.

The growth in the Q3FY5 PAT was aided by exceptional income of Rs 390.77 crore due to fair valuation of equity on consolidation of Snowman Logistics Limited, which became a subsidiary from December 24, 2024, it said.

Total revenue for the third quarter of FY25 stood at Rs 331.15 crore from Rs 323.84 crore in the October-December period of earlier fiscal, it said.

Total throughput stood almost flat at 182,048 TEUs (Twenty-foot Equivalent Units) in the December quarter as compared to 181,522 TEUs in the corresponding quarter of FY24, with railway vertical handling 92,438 TEUs and container freight station (CFS) vertical handling 98,610 TEUs in Q3 of the current fiscal, the company 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.

Stating that he is hopeful of the Red Sea crisis coming to an end soon, he said that 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." PTI IAS MR MR