Logistics company Gati’s e-commerce division, Gati e-connect, has posted revenues of Rs 127.4 crore for the financial year 2015, showing a jump of 164% from the revenues of Rs 48.3 crore in the last fiscal year. Revenues from the e-commerce division boosted the net profit of the company to Rs 57 crore, which was up 59% from Rs 35.5 crore from the last fiscal.
Gati mentioned that it has invested in last minute delivery over the last year and now has a fleet of 1350 vehicles (2-wheelers, 3-wheelers and 4-wheelers) serving over 20,000 pin codes.
– The company posted a net profit of Rs 57 crore for FY 15 from Rs 35.5 crore in FY 14, a profit rise of 59 % y-o-y.
– Consolidated revenue grew by 14% to Rs 1663 crore in FY15, from Rs 1454 crore last year.
– The express distribution and supply chain solutions, GATI-KWE’s revenues stood at Rs 1023.37 crore for FY15 showing year on year growth of 12%.
Need to know
– The company is awaiting clarification from the Reserve Bank of India on matters pertaining to foreign currency convertible bonds (FCCBs) issued by the company. In the meanwhile, the trustee of the bond holders has filed a civil suit in the Secunderabad Court for specific performance, which the company is contesting. Last quarter, the company said that it was looking to raise Rs 120 crore to expand its e-commerce business via FCCBs.
– Gati Ship Limited an associate company has closed it’s operation.