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Gati Posts 20% Rise In Q1 Profit

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Gati Posts 20% Rise In Q1 Profit
New Delhi: Logistics major Gati on Thursday reported a 20.5 per cent rise in consolidated net profit at Rs 9.44 crore for the quarter ended June 30.

The company had posted a net profit of Rs 7.83 crore for the corresponding period a year ago, it said in a filing to the BSE.

Income from operations increased to Rs 425.54 crore in the quarter under review as against Rs 416.24 crore in the year-ago period.

Muted macroeconomic environment and post-launch stabilisation of new technology in its distribution network restrained growth in express distribution, the company said in a statement.

"E-commerce registers 49 per cent in package growth," the statement said.

Company's founder and CEO Mahendra Agarwal said, "We have embarked on an ambitious mission of ramping up Gati's operations towards delivering a million packages a day, while ensuring zero delays and zero damages."

"Looking forward, we are excited about the passage of the GST Bill this week. It will be a significant trigger for the Indian industry to migrate from legacy supply chain models designed to optimize current tax considerations, to more efficient supply chain models," Mr Agarwal said.

"For us, it is a tremendous opportunity for providing integrated supply chain solutions to address the end-to-end logistics needs of our vast customer base. We do hope that GST will Significantly ease the interstate movement of goods with reduced procedures and restrictions at state borders," Mr Agarwal added.

Gati Ltd a pioneer and leader in Express Distribution and Supply Chain Solutions in India delivers over 280,000 packages every day. 


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