GDL Navigates Losses Amidst Strategic Expansion
Gateway Distriparks Ltd reported a loss of Rs 190.97 crore for the March quarter. However, the company's total income surged by 43% from the previous year, driven by its consolidation of Snowman Logistics. Despite initial setbacks, GDL remains optimistic about future growth, particularly in the rail sector.
- Country:
- India
Gateway Distriparks Ltd, a key player in multi-modal logistics, revealed a financial setback with a Rs 190.97 crore loss in the March quarter. This contrasts sharply with a Rs 56 crore profit in the corresponding period last year.
Encouragingly, the company's total income increased significantly, recording a 43% rise from Rs 374.97 crore to Rs 534.94 crore. This growth is partly attributed to the fair valuation of equity following the consolidation of Snowman Logistics into its operations.
Despite early challenges, company leadership remains optimistic. Chairman and Managing Director Prem Kishan Dass Gupta emphasized the company's strategic focus on expanding its rail vertical and increasing market share. GDL aims to capitalize on the potential reopening of the Red Sea route to boost EXIM volumes for India.
(With inputs from agencies.)
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