Gateway Distriparks down as CFO Sandeep Kumar Shaw quits

Shaw, who resigned due to personal reasons, will be relieved at the end of business hours on November 28, the company told exchanges

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Gateway Distriparks shares were trading a percent lower in September 11 morning after the logistic company announced that its chief financial officer, Sandeep Kumar Shaw, had resigned.

“Mr. Shaw has tendered his resignation due to personal reasons. He will be relieved from his duties effective end of business hours on November 28, 2023,” the company said in a regulatory filing on September 8th.

In the June quarter, the company reported a 5.91 percent year-on-year (YoY) increase in revenue at Rs 358 crore. Net profit was up 7.14 percent YoY at Rs 56 crore. The operating profit margin, however, contracted 100 basis points to 24 percent.

One basis point is one-hundredth of a percentage point.

Gateway Distriparks provides integrated logistics and container terminal services. It specialises in container handling, storage, and transportation, managing container freight stations, inland container depots, and rail-linked logistics hubs.

At 10 am, Gateway Distriparks  was quoting at Rs 87 on the National Stock Exchange (NSE), down Rs 1.25, or 1.42 percent.

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