Gati drops after reporting dismal Q2 results

Gati shed 4.77% to Rs 155.75 at 9:30 IST on BSE after consolidated net profit fell 16.45% to Rs 5.79 crore on 1.73% decline in total income to Rs 407.72 crore in Q2 September 2015 over Q2 September 2014.

The Q2 result was announced after market hours yesterday, 19 October 2015.

Meanwhile, the S&P BSE Sensex was down 10.13 points or 0.04% at 27,354.79.

On BSE, so far 49,436 shares were traded in the counter as against average daily volume of 3.34 lakh shares in the past one quarter.

The stock hit a high of Rs 156.80 and a low of Rs 153.95 so far during the day. The stock had hit a record high of Rs 341.60 on 18 November 2014. The stock had hit a 52-week low of Rs 115.05 on 25 August 2015.

The stock had outperformed the market over the past one month till 19 October 2015, surging 18.17% compared with Sensex's 4.37% rise. The scrip, however, underperformed the market in past one quarter, declining 9.09% as against Sensex's 3.86% fall.

The mid-cap company has equity capital of Rs 17.50 crore. Face value per share is Rs 2.

Gati is into express distribution and provides supply chain solutions.

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