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Gati’s net profit up 20% to Rs 11.8 crore in Q1FY17

Logistics company Gati has posted total consolidated revenues of Rs 425.54 crore for the quarter ended 30 June 2016 (Q1FY17). This was an increase of 2.2% year-on-year from Rs 416.24 crore in the same quarter last year. On a sequential basis, total revenues decreased 0.5% from Rs 428.04 crore. Note for the current quarter, Gati has not disclosed revenues from its ecommerce division, Gati e-connect. The company’s ecommerce business had posted revenues of Rs 63 crore in the preceding quarter. At the time Dhruv Agarwal, EVP of Gati-Kintetsu said that “over the last couple of quarters we also shifted our focus to look at the lower weight categories. Beginning of this year we were doing 60% above 2 kg, 40% less than two kg and now at the end of this year we have kind of change that and doing 60% in less than 2 kg category and 40% in above 2 kg.” Financials: - The company posted a net profit of Rs 11.81 crore for Q1FY17, an increase of 19.5% from Rs 9.88 crore in the same quarter last year. - The express distribution and supply chain segment reported revenues of Rs 363.19 crore, an increase of 1% from Rs 358.8 crore in Q1FY16. Profit before tax for the segment stood at Rs 24.7 crore, a minor increase of 2.5% from Rs 24.1 crore in the same quarter last year. The segment accounted for 85.34% of the total revenues. Other developments: - The company is awaiting clarification from the…

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