Stock Picking - Art Or Science

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Saturday, January 28, 2006

Gateway Distriparks - Niche Player

Laloo Ji Opened The Gate Of Opportunities

Port-based logistics providing company Gateway Distriparks registered 62.44 per cent growth in net profit at Rs. 17.69 crore during the third quarter ended December 2005 as against Rs 10.89 crore during the corresponding period in the last year. Income from operation grew to Rs. 31.92 crore from Rs. 24.79 crore in the year-ago period. The company has declared an interim dividend of 15 per cent (Re. 1.50 per equity share of Rs 10 each) for the the current financial year. The growth in the container throughput led to the increase in profitability.

Throughput for the quarter increased by 21.69 per cent to 55,295 twenty foot equivalent units (TEUs). “The container port sector is on a high growth trajectory and we are expanding our operations to keep pace. The opening up of container movement by rail to private players will add significantly to our growth. We are optimistic of consolidating our position as an integrated logistics provider in the coming years,” Chairman Gopinath Pillai said.

The company recently raised $85 million through its maiden GDR offering, issuing 1.6 crore GDRs representing 18.07 per cent of the post issue equity. The fully diluted EPS for the quarter was Rs 2.30 per share.

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