Gateway Distriparks Ltd Q1 net at Rs.9.32 Crores

Gateway Distriparks Ltd has announced the UnAudited Financial Results for the quarter ended June 30, 2007.

The Company has posted profit after taxes of Rs.175.79 million for the quarter ended June 30, 2007 where as the same was at Rs.195.72 million for the quarter ended June 30, 2006. Total Income is Rs.349.65 million for the quarter ended June 30, 2007 where as the same was at Rs.382.87 million for the quarter ended June 30, 2006.

The company reported Earnings Per Share (EPS) of Rs.1.9 for quarter ending June 30, 2007 compared to Rs.2.12 during same quarter last year.

Gateway Rail Freight Ltd (GRFL), subsidiary of the Company, has entered into an agreement with Container Corporation of India Ltd to form a Joint Venture Company (JV), which will operate the Company´s Inland Container Depot at Garhi Harsaru. Pending formation of the JV, the Company has transferred the operations including receivables and payables at a net consideration of Rs 26.884 million under Memorandum of Arrangement to GRFL with effect from April 1, 2007.

During the quarter, Gateway Rail Freight Ltd, subsidiary of the Company has acquired and deployed its first own container train on the domestic route.

The stock closed the day at Rs.187.30, up by Rs.1.05 or 0.56%. The stock hit an intraday high of Rs.194 and low of Rs.186.10. The total traded quantity was 344395 compared to 2 week average of 190892.

Source : Equity Bulls

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