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Gati's consolidated PAT rises 60% to Rs 14 crore

India Blooms News Service | 28 Jan 2015, 03:21 am
Hyderabad, Jan 27 (IBNS): Express Distribution and Supply Chain Solution Gati Ltd. declared its financial results for the third quarter ended December 31, 2014. Gati's consolidated total income rose 15%, to Rs. 428 crore, while consolidated net profit for the same period was up 60% to Rs. 14 crore.

In Q3FY’15, revenue from Gati e-Connect, the last mile delivery services or e-Tailing companies, registered a total income of Rs 41.7 crore; with more than 185% increase in revenue compared to Q3FY'14 (Rs.14.6 crore).

In this quarter, Gati e-Connect has created centers for consolidation of shipments. The company has strengthened the usage of electronic tablets for maintaining delivery and pick up updates and strictly maintains scanning process standardization for stock control.

In addition to this, several quality check centers have been created to improve quality standards for the growing "reverse logistics" that cater to the return shipments.

For the quarter ended Dec 30th 2014, the total income for GATI-KWE rose by 9% at Rs 284 crore from Rs 261 crore in the corresponding quarter of last year. EBITDA for Q3FY’15 is at Rs 23 crore as against Rs 29 crore in the corresponding quarter of last year.

In Q3FY’15, Gati Kausar registered a total income of Rs 11.8 crore. In Q3FY'15, Gati Kausar has registered growth in the revenue, with an increase of more than 25% compared to Q2FY'15. This growth is primarily due to the new business development in the last 3 months.

With the objective to becoming an end to end cold chain service provider in India, Gati Kausar has added 20 more vehicles to its fleet. The fleet expansion is in parallel with development of cold warehouses across India.

Commenting on the company’s quarterly performance, Mahendra Agarwal, Founder and CEO, Gati Limited said, “Our performance for the third quarter has been good and ends 2014 as a milestone year in our path to achieve high levels of excellence. In the e-commerce segment, we continue to perform extremely well and remain confident of sustaining these high growth levels in the coming quarters as well. Looking ahead, implementation of GST, gradual improvement in the economy and continued high growth in e-commerce augurs well for an excellent FY16 for GATI.”  

Gati's consolidated PAT rises 60% to Rs 14 crore

India Blooms News Service
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