Gati back in the black

Total income during the quarter stood at Rs 317 cr compared with Rs 257 cr during same period last year

Express distribution and supply chain solutions provider Gati Ltd posted a net profit of Rs 7.5 crore for the third quarter ended March 31, 2013, as against a loss of Rs 3.5 crore during the corresponding period a year ago.

Total income during the quarter stood at Rs 317 crore compared with Rs 257 crore during same period last year. However, Ebitda (earnings before interest, tax depreciation and amortisation) dropped to Rs 21 crore as against Rs 22 crore. Ebitda margin for the quarter stood at 6 per cent as against 8 per cent reported last year, a company release stated.

Total revenue rose six per cent to Rs 957 crore for the nine-month ended March 2013 as against Rs 904 crore in the previous nine months ended March 2012.

During the current quarter Gati divested a minority stake of 40 per cent in Gati Ship to a strategic partner to help drive its profitability.

The company had created an additional warehousing space of 250,000 sft in Chennai for three product logistics operations.

It has partnered IBM India to optimise its network operations and improve profitability and further enhance its application of technology.