Gateway Distriparks Ltd (GDL) has reported good growth in volumes, revenues and profits in the quarter ended 30 June 2008.

The fully diluted earnings per share (EPS) in Q-1 FY 09 was Rs 1.80.

Segment-wise performance (Q-1 FY 09 vs Q-4 FY 08) :

CFS Business : Throughput was lower by 1 % at 87,221 TEUs, Revenue stable at Rs 55 Crores and Profit after tax was up 4 % to Rs 22.9 Crores.

Rail Business : Throughput was lower by 14% at 10,072 TEUs, while Revenue grew 33 % to Rs 34 Crores. Net Loss was Rs 2.1 Crores against Rs 5.6 Crores in the previous quarter.

Cold Chain Business : Revenue grew 4 % to Rs 7.8 Crores and the business achieved break-even at the level of net profit.

Buy-back of shares : The Board approved the proposal to buy back the company’s shares upto an amount of Rs 64 Crores which represents 10 % of the company’s paid-up capital and reserves through market-purchase at a maximium price of Rs 110.

“Our core CFS business has done well with all the CFSs (Navi Mumbai, Chennai, Vizag & Kochi) continuing to post good volumes, revenues & profits." said Mr Gopinath Pillai, Chairman, GDL.

“Our new businesses, viz., Rail & Cold Chain Logistics are stabilizing and are showing encouraging signs of growth in both volumes and revenues.

“With the deployment of twelve of our own container trains in the EXIM, domestic and Reefer routes, Gateway Rail Freight Ltd (GRFL), subsidiary of GDL, is today the largest private container train operator in the country. We are confident that our investment and efforts to scale up the rail operations, which has become EBIDTA positive, will continue to improve in the current financial year”, Mr Pillai added.

Commenting on the buy-back, Mr Pillai said “We believe that the value of GDL’s share is worth significantly more compared to the current market price. The buy-back will enhance the value of the shares”.

Sourced From: Adfactors Public Relations Pvt Ltd