Gati witnesses 61% increase in Q3 net

Gati Limited, a Hyderabad-based express distribution and supply chain solutions provider, witnessed a 60.9% increase in its net profit to Rs 14 crore for the third quarter ended December 2014, as against Rs 8.7 crore during the same period a year ago.

The company's consolidated income stood at Rs 428 crore for the quarter under consideration, when compared with Rs 374 crore in the corresponding quarter of the previous year, reflecting a growth of 14.43%.

"In the e-commerce segment, we continue to perform extremely well and remain confidence of sustaining these high growth levels in the coming quarters as well. Looking ahead, implementation of GST, gradual improvement in the economy and continued high growth in e-commerce augur well for an excellent FY16," Mahendra Agarwal, founder and chief executive officer of Gati, said in a release.

In the third quarter of the current financial year, revenues from the company's ecommerce business Gati e-Connect touched Rs 41.7 crore, an increase of 185.6%, when compared with Rs 14.6 crore in the corresponding quarter of the previous year.

Gati Limited's scrip is currently trading at Rs 276.65 on the BSE, up 0.67%, over the previous close of Rs 274.80 per share.