Gati e-Connect revenues rises 185%
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Consolidated Financial Highlights of Q3FY’15 v/s Q3FY’14
ñ Consolidated income Rs 428 crore v/s Rs 374 crore, up 15% ñ EBITDA at Rs 36.4 crore v/s Rs 33.9 crore, up 7% ñ PAT at Rs 14 crore v/s Rs 8.7 crore, up 60%
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Hyderabad, January 27, 2015: Gati Ltd. (NSE: GATI, BSE: 532345) India’s leader in Express Distribution and Supply Chain Solutions, declared its financial results for the third quarter ended December 31, 2014. Gati’s consolidated total income rose 15%, to Rs. 428 crore, while consolidated net profit for the same period was up 60% to Rs. 14 crore.
Business Highlights:
1) Gati Ltd
In Q3FY’15, revenue from Gati e-Connect, the last mile delivery services or e-Tailing companies, registered a total income of Rs 41.7 crore; with more than 185% increase in revenue compared to Q3FY’14 (Rs.14.6 crore). In this quarter, Gati e-Connect has created centers for consolidation of shipments. The company has strengthened the usage of electronic tablets for maintaining delivery and pick up updates and strictly maintains scanning process standardization for stock control. In addition to this, several quality check centers have been created to improve quality standards for the growing “reverse logistics” that cater to the return shipments.
2) Gati Kintetsu Express Private Ltd – Express Distribution and Supply Chain Solutions
For the quarter ended Dec 30th 2014, the total income for GATI-KWE rose by 9% at Rs 284 crore from Rs 261 crore in the corresponding quarter of last year. EBITDA for Q3FY’15 is at Rs 23 crore as against Rs 29 crore in the corresponding quarter of last year.
3) Gati Kausar (Cold Chain Solutions)
In Q3FY’15, Gati Kausar registered a total income of Rs 11.8 crore. In Q3FY’15, Gati Kausar has registered growth in the revenue, with an increase of more than 25% compared to Q2FY’15. This growth is primarily due to the new business development in the last 3 months.
With the objective to becoming an end to end cold chain service provider in India, Gati Kausar has added 20 more vehicles to its fleet. The fleet expansion is in parallel with development of cold warehouses across India.
Commenting on the company’s quarterly performance, Mr. Mahendra Agarwal, Founder and CEO, Gati Limited said, “Our performance for the third quarter has been good and ends 2014 as a milestone year in our path to achieve high levels of excellence. In the e-commerce segment, we continue to perform extremely well and remain confident 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 augurs well for an excellent FY16 for GATI.”
About Gati Ltd:
Gati Limited (www.gati.com) a pioneer and leader in Express Distribution and Supply Chain Solutions in India delivers over 6 million packages per month. Having started as a cargo management company in 1989, Gati has grown into an organization with more than 4,000 business partners and a network reach of 667 out of total 671 districts in India. Gati has over 4500 vehicles on the road excluding their fleet of refrigerated vehicles, container shipping vessels and world class warehousing facilities across India. Furthermore, Gati has a strong market presence in the Asia Pacific region and SAARC countries. Gati has offices in India, Singapore, Hong Kong, China, Nepal and Thailand.