Gateway Distriparks net declines 9.16% in Mar`09 qtr

Gateway Distriparks, disclosed a marginal decline in standalone net profit for the quarter ended March 2009. During the quarter, the profit of the company declined 9.16% to Rs 183.27 million from Rs 201.74 million in the same quarter previous year.

Net sales declined 6.80% to Rs 423 million, while total income for the quarter fell 8.91% to Rs 428.70 million, when compared with the prior year period.

It posted earnings of Rs 1.63 a share during the quarter, registering 6.86% decline over previous year period.

Quarterly Results - Standalone (Rs in mn)
As at	Mar - 09	Mar - 08	%Change
Net Sales	423.23	454.10	(6.80)
Net Profit	183.27	201.74	(9.16)
Basic EPS	1.63	1.75	(6.86)

During the quarter, the operating margin of the company rose to 58.44% compared with 46.66% in the previous year period. Interest cost increased 6.06 times to Rs 2.49 million while depreciation cost rose 3.15% to Rs 39.48 million over previous year period.