Gati Q1 net rises two-fold to Rs 15 cr

Cold chain operations under Kausar brand register a total income of Rs 12.3 cr

Express distribution and supply chain solutions provider, Gati Limited, has reported a 111 per cent rise in net profit to Rs 15 crore for the first quarter ended June 2014, as against Rs 7.2 crore for the same period last year. The company’s consolidated income showed a 23 per cent rise to Rs 400 crore as against Rs 326 crore last year.

Segment-wise, total income of Gati Kintetsu Express Private Limited, a joint venture company between Gati and Japan's Kintetsu World Express, rose 17 per cent to Rs 280 crore, when compared with Rs 240 crore in the corresponding quarter last year.

Gati’s e-commerce business E-connect’s revenues were up 179 per cent during the quarter under review at Rs 21.20 crore, from Rs 7.59 crore in the previous quarter last year, the company said.

The company’s cold chain operations under the Kausar brand registered a total income of Rs 12.3 crore during the quarter.

“The boom in the e-commerce sector has brought a wave of transformation in the retail space. With a wide range of services offered by E-connect, our aim is to reach every nook and corner of the country to enhance the experience of online shopping,” said Mahendra Agarwal founder and chief executive officer.

Gati’s shares ended the trade at Rs 130.95, up 4.84 per cent, as against the previous day's close of Rs 124.90 a share on the BSE.