Gati Ltd Q1 consolidated net profit drops by 32%

Logistics services provider Gati Ltd today reported 31.9 per cent drop in consolidated net profit at Rs 7.83 crore for the quarter ended June 30, 2015.
The company's net profit in the corresponding quarter of the last fiscal was Rs 11.50 crore, Gati Ltd said in a regulatory filing.
However, the company's total income increased to Rs 416.24 crore, over Rs 397.02 crore in the same quarter of the previous financial year.
The total expenditure increased to Rs 395.36 crore, over Rs 366.23 crore in the year-ago period.
Commenting on the company's quarterly performance, company's founder and CEO Mahendra Agarwal said, "In the months ahead, our economy is poised for an upward momentum due to the infrastructure push by the government, and the positive signals emanating from the businesses across sectors."

Riding on the positive trend, the logistics industry, being the backbone of our 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."

The company further said Gati e-Connect, the e-Commerce logistics services for e-Tailing companies, has widened its customer base by adding new e-Commerce, as well as m-Commerce players.
To sustain such growth momentum, and in preparation for the upcoming festive shopping season, the company has geared itself to expand its capabiilites to deliver 90,000 packages every day, up from 40,000 packages now.

Shares of the company closed at Rs 197.90 apiece on BSE, up 4.57 per cent from previous close.