Moneycontrol Bureau
Gateway Distriparks' third quarter earnings missed analysts' expectations on Wednesday with the third quarter consolidated profit falling 43 percent year-on-year to Rs 30.9 crore on high base in a year-ago period, weak operational performance and lower revenue growth.
Revenue declined 2 percent to Rs 268 crore in quarter ended December 2015 compared to Rs 273.7 crore in year-ago period, dented by container freight station (CFS) business.
CFS revenue slipped 12 percent year-on-year to Rs 78.2 crore with EBIT margin contracting 900 basis points while rail logistics revenue increased 2 percent to Rs 189.8 crore with EBIT margin down 600 basis points in Q3.
Profit was expected at Rs 32.7 crore on revenue of Rs 274 crore for the quarter, according to analysts polled by CNBC-TV18.
Operating profit (earnings before interest, tax, depreciation and amortisation) in Q3 was down 27 percent to Rs 62.8 crore and margin contracted by 820 basis points to 23.4 percent compared to corresponding quarter of last fiscal, which were lower than expectations of Rs 67.2 crore and 24.5 percent, respectively.
At 14:46 hours IST, the scrip of Gateway Distriparks was quoting at Rs 271.95, down Rs 10.40, or 3.68 percent on the BSE.
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