{LONGTERMINVESTORS} Gati Ltd Q1 results - Press release

 

Subject: Gati Ltd Q1 results - Press release

Dear Sir / Ma'am,

 

Attached and appended the press release of Gati Limited which has today announced their Q 1 results today. Request you to carry the same in your esteemed publication.

 

 

Gati registers PAT growth of 20%

Gati embraces modern technology to automate its pan-India distribution operations.

Geared for GST.

 

Consolidated Financial Highlights of Q1 FY'17

 

·         Consolidated Revenue of Rs 428.9 crore in Q1 FY'17, up by 2% over Q1 FY'16

·         EBITDA at Rs 36.8 crore in Q1 FY'17, up by 8% over Q1 FY'16

·         EBITDA margin improved 40 bps over Q1 FY'16   

·         PAT at Rs 11.8 crore in Q1 FY'17, up 20% over Q1 FY'16

 

Hyderabad, August 04, 2016: GATI Ltd. (NSE: GATI, BSE: 532345) India's leader in Express Distribution,  Supply Chain Solutions, and E-commerce logistics solutions declared its financial results for the first quarter ended 30^th June 2016.

In Q1 FY'17, the company registered consolidated revenue of Rs 428.9 crore, up 2 % over Q1 FY'16. Muted macro-economic environment and post-launch stabilization of new technology in its distribution network restrained growth in express distribution. E-commerce registers 49% in package growth.

The consolidated net profit rose by 20% to Rs 11.8 crore in Q1 FY'17, from Rs 9.9 crore in Q1FY'16.

 

Segmental Highlights:

 1. Gati Kintetsu Express Private Ltd - Express Distribution and Supply Chain Solutions

·         In Q1FY'17, the total income for GATI-KWE was Rs 282.6 crore, a marginal  decline YoY.

·         EBITDA grew by 5% to Rs 21.1 crore in Q1FY'17, from Rs 20 crore in Q1FY'16. This represents 50 bps YoY improvement in margin

·         Supply Chain Management witnessed robust growth with account expansion and new acquisition of marquee customers.

 

2. Gati E-commerce Logistics (E-connect)

·         Gati's E-connect division clocks a revenue growth of 28.4% YOY at Rs 58  crore

·         The volume of packages handled increased 49% YOY.

 

3. Gati Kausar

·         Launched and kick started operations at the state-of-the-art refrigerated warehousing facility near Delhi

 

Commenting on the company's quarterly performance, Mr. Mahendra Agarwal, Founder & CEO said, "We have embarked on an ambitious mission of ramping up Gati's operations towards delivering a million packages a day, while ensuring zero delays and zero damages. In the pursuit of the same, we have undertaken large-scale project to automate our pan-India network operations using Barcode Scans on each and every package. Such expansive technology automation is unprecedented in the Express Distribution industry in India.

 

This comes close on the heels of the launch and commissioning of our state-of-the-art refrigerated warehouse with 5000 pallets space of cold storage near Delhi.

 

Looking forward, we are excited about the passage of the GST Bill this week. It will be a significant trigger for the Indian industry to migrate from legacy supply chain models designed to optimize current tax considerations, to more efficient supply chain models. For us, it is a tremendous opportunity for providing integrated supply chain solutions to address the end-to-end logistics needs of our vast customer base. We do hope that GST will significantly ease the interstate movement of goods with reduced procedures and restrictions at state borders."

 

 

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