Logistics company Gati has posted total consolidated revenues of Rs 425.64 crore for the quarter ended 30 September 2016 (Q2FY17). This was an increase of 5% year-on-year from Rs 404.94 crore in the same quarter last year. On a sequential basis, total revenues remained near constant from Rs 425.54 crore. Gati’s revenues from its ecommerce division Gati e-connect stood at Rs 46.6 crore, a growth of 3.3% year on year. The company mentions the volume of packages handled increased 21% YoY with significantly higher contributions from the smaller weight segments. The company also said it has commissioned a fully-automated package sorting facility in the North region. Financials: - The company posted a net profit of Rs 8.36 crore for Q2FY17, an increase of 1.2% from Rs 8.26 crore in the same quarter last year. - The express distribution and supply chain segment reported revenues of Rs 361.64 crore, an increase of 3.2% from Rs 350.45 crore in Q2FY16. Profit before tax for the segment stood at Rs 20.30 crore, a decrease of 5.6% from Rs 21.51 crore in the same quarter last year. The segment accounted for 84.96% of the total revenues. Browntape investment: Earlier today we reported that Gati invested an undisclosed amount in online order and inventory management company Browntape. Interestingly, the company mentions that it decided to make a “strategic investment in a technology company of Rs 18.50 crores to facilitate long term growth of business.” Gati will be utilizing Browntape’s platform to develop a single window…
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