Gati slumps after posting disappointing Q1 results

Gati slumped 7.4% to Rs 183.25 at 10:25 IST on BSE after consolidated net profit fell 31.91% to Rs 7.83 crore on 5.22% growth in total income to Rs 420.36 crore in Q1 June 2015 over Q1 June 2014.

The result was announced after market hours yesterday, 30 July 2015.

Meanwhile, the BSE Sensex was up 204.43 points, or 0.74%, to 27,909.78.

On BSE, so far 2.68 lakh shares were traded in the counter, compared with an average volume of 3.26 lakh shares in the past one quarter.

The stock hit a high of Rs 188 and a low of Rs 179.30 so far during the day. The stock hit a record high of Rs 341.60 on 18 November 2014. The stock hit a 52-week low of Rs 110.65 on 30 July 2014.

Gati said it now delivers 2.6 lakh packages every day across 672 of the 674 districts in India.

Commenting on the company's quarterly performance, Mr Mahendra Agarwal, founder & CEO Gati said: in the months ahead, Indian economy is poised for an upward momentum due to the infrastructure pus by the government and the positive signals emanating from businesses across sectors. Riding on this positive trend, the logistics industry, being the backbone of economy, will see greater acceleration in growth, as the year unfolds. Gati will continue to invest ahead in its network people and systems to serve its large and growing customer franchise, he added.

Gati is into express distribution and provides supply chain solutions.

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