Gateway Q2 net zooms 300%

Gateway Distriparks today reported a 308% increase in net profit at at Rs 20.40 crore for the second quarter ended September 30, 2005 when compared with Rs 5 crore in the corresponding quarter of the previous fiscal.

According to an official release issued today, revenue increased to Rs 38.34 crore as against Rs 18.98 crore in Q2FY05.

"The company would be seeking shareholders' approval in an extra-ordinary general meeting for raising funds from the international market for on-going expansion and possible acquisition opportunities," the release added.