Cargo Breaking News
Gateway Distriparks has announced its audited financial results for the quarter and Financial Year ended March 31, 2021. In March’21, rail container business recorded highest ever monthly throughput of 26,426 TEUs. Q4 consolidated EBITDA up 41 per cent YoY from Rs69.5 crore to Rs 98.1 crore and Q4 consolidated PAT up 299 per cent from 11.7 crore to 46.6 crore. The net debt reduced by Rs237 crore in FY21 to Rs 444 crore. The revival in the EXIM trade has been much faster than anticipated. In Q3FY21, the company witnessed a sharp recovery in its overall volumes for both our CFS and Rail Container business. The CFS business recorded peak throughput of 33,793 TEUs in month of March 2021 for the year whereas the Rail container business recorded highest ever monthly throughput of 26,426 TEUs in the month of March 2021, thus surpassing previous all-time high throughput of 25,676 TEUs recorded in December 2020.
Commenting on the performance, Prem Kishan Dass Gupta, Chairman & Managing Director, comments, “The growth momentum we had gathered in Q3 has continued in Q4 as well. H1FY21 was impacted by COVID-19-linked disruptions, however as the year went on, we could see volumes bounce back month over month and reach a new all-time high.
The 306-km long Rewari-Madar section of the WDFC (Western Dedicated Freight Corridor) was inaugurated in the first week of January 2021. The WDFC will bring in a lot of operating efficiency at our 4 owned ICDs in the North-West corridor leading to further improvement in service quality for our customers. The trials on the next section of Madar to Palanpur which will connect Mundra and Pipavav have already started and is expected to be commissioned soon. We were one of the first Container Train Operators to run our train on the newly inaugurated section of the WDFC.”
“The transit time of our trains have already reduced and will further reduce significantly, allow higher double stacking of containers and help to provide an even more reliable service to our customers through our North India ICDs at Garhi Harsaru, Faridabad, and Ludhiana.
During the year we have been able to reduce our net debt from Rs681cr to Rs444cr. Further, in April we have redeemed another Rs20cr worth of NCDs. Our efforts towards strengthening our balance sheet through reducing our debt continues and will enable us to start working on our next phase of expansion of container terminals alongside the WDFC,” he adds.
