 "Gati hits six-year high after Q1 rises two-fold")
Gati is trading higher by 4% at Rs 142, extending its 10% rally in past two trading days on BSE, after reporting a 111% jump in consolidated net profit to Rs 15 crore for the first quarter ended June 2014 (Q1FY15), on back of strong operational performance. The logistics company had profit of Rs 7.2 crore for the same period last year.
The company’s consolidated income grew 23% to Rs 400 crore as against Rs 326 crore last year.
EBIDTA or operating profit margins stood at 11.6% in Q1FY’15 compared to 9.9% in the corresponding quarter of last year, Gati said in a press release.
Meanwhile, the newspaper report suggests that the company is planning to sell a minority stake in its cold chain unit and exit its shipping business as part of a plan to reduce debt and cut losses.
The stock opened at Rs 140 and touched a high of Rs 144, also its highest level since January 2008 on BSE. A combined 844,060 shares changed hands on the counter till noon deals on NSE and BSE.
The company’s consolidated income grew 23% to Rs 400 crore as against Rs 326 crore last year.
EBIDTA or operating profit margins stood at 11.6% in Q1FY’15 compared to 9.9% in the corresponding quarter of last year, Gati said in a press release.
Meanwhile, the newspaper report suggests that the company is planning to sell a minority stake in its cold chain unit and exit its shipping business as part of a plan to reduce debt and cut losses.
The stock opened at Rs 140 and touched a high of Rs 144, also its highest level since January 2008 on BSE. A combined 844,060 shares changed hands on the counter till noon deals on NSE and BSE.
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