Shares of Gateway Distriparks experienced a 1% decline in the morning of September 11 following the company’s announcement of the resignation of its Chief Financial Officer, Sandeep Kumar Shaw.
In a regulatory filing dated September 8, the logistics company revealed that Mr. Shaw had submitted his resignation, citing personal reasons. His duties will officially conclude at the end of business hours on November 28, 2023.
During the June quarter, Gateway Distriparks reported a 5.91% year-on-year (YoY) increase in revenue, reaching Rs 358 crore. Net profit also saw a YoY rise of 7.14% to Rs 56 crore. However, the operating profit margin contracted by 100 basis points, settling at 24%.
Gateway Distriparks specializes in providing integrated logistics and container terminal services. Their expertise lies in container handling, storage, and transportation, as well as the management of container freight stations, inland container depots, and rail-linked logistics hubs.
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