 "Gati hits 52-week low on disappointing Q3 results")
Gati has dipped nearly 7% to Rs 111, also its 52-week low on the BSE, after the company reported 33% year-on-year (YoY) drop in its net profit at Rs 7.67 crore for the third quarter ended December 2015 (Q3FY16) dueto lower operational income.
The company engaged in logistics business posted a profit of Rs 11.44 crore in the same quarter year ago.
Total income from operations during the quarter declined 1% at Rs 418 crore as against Rs 423 crore in the corresponding quarter of previous fiscal.
At 10:34 a.m. the stock was down 5% at Rs 113 on the BSE as compared to 0.28% rise in the S&P BSE Sensex. A combined 1.54 million shares changed hands on the counter on the BSE and NSE.
The company engaged in logistics business posted a profit of Rs 11.44 crore in the same quarter year ago.
Total income from operations during the quarter declined 1% at Rs 418 crore as against Rs 423 crore in the corresponding quarter of previous fiscal.
At 10:34 a.m. the stock was down 5% at Rs 113 on the BSE as compared to 0.28% rise in the S&P BSE Sensex. A combined 1.54 million shares changed hands on the counter on the BSE and NSE.