HYDERABAD, India, February 8, 2018 /PRNewswire/ --
Express Distribution and Supply Chain business records highest ever quarter revenue of INR 3,045 Million
Gati Ltd. (NSE: GATI, BSE: 532345) India's leader in Express Distribution and Supply Chain Solutions, published its financial results for the third quarter ending 31st December 2017.
In the third quarter of FY18, the company's consolidated revenue from operations was INR 4,485 Million, up 5.6 % over Q3 FY17. Riding on strong operating fundamentals, PBT (excluding other income) grew seven times to INR 49 Million over Q2 FY18 and the consolidated PAT was INR 49 Million in Q3 FY18 as well.
Net debt as on December 2017 has significantly reduced to INR 3,259 Million as against INR 4,250 Million as on December 2016.
Gati Kintetsu Express Private Ltd - Express Distribution and Supply Chain Solutions
- Core Express Distribution recorded its highest ever quarter in Q3 FY18 at INR 3,045 Million, compared to INR 2,763 in Q3 FY17
- EBITDA for Q3 FY18 increased to INR 196 Million registering a growth of 20% over Q3 FY17
- PBT in Q3 FY18 increased to INR 118 Million, a growth of 42% from INR 83 Million in Q3 FY17.
- PAT in Q3 FY18 increased to INR 100 Million, a growth of 58% from INR 63 Million in Q3 FY17.
The 100 percent shop floor automation continues to be the benchmark in the logistics industry and provides the company with a significantly advantageous position to benefit in the E-Way bill related environment. Gati is fully prepared for the E-Way bill roll-out and as the trial phase of the E-Way bill continues at this point, Gati has already made E-Way bill part of its 'business as usual'.
Commenting on the company's quarterly performance, Mr. Mahendra Agarwal, Founder and CEO said, "Continuing stabilization of business environment post-GST implementation along with our strong focus on operating fundamentals has resulted in a positive growth in the third quarter. Overall underlying performance, excluding the impacts of demonetization in the prior year, is supported by good volume growth in our core Express Distribution business. Gati will continue to direct efforts towards growing market share across our portfolio and further enhancing excellence in customer service. Overall, we anticipate the current momentum in the business environment to continue through to the next fiscal year."
About Gati Ltd:
Gati Limited (http://www.gati.com) is a pioneer and leader in Express Distribution and Supply Chain Solutions in India and delivers over 6 Million packages a month. Gati started in 1989 as a cargo management company and expanded to serving complex business solutions in Air & Surface Distribution, e-Commerce logistics, Warehousing, Freight Forwarding and Cold Chain. Gati has now grown into an organization with more than 5,000 business partners and a network reach of 672 out of total 676 districts in India. Gati has a 5000 plus fleet, including refrigerated vehicles and world-class warehousing facilities across India. Gati has a strong market presence in the Asia-Pacific region and South Asian countries. Gati has offices in India, Singapore, Hong Kong, China, Nepal and Thailand.
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SOURCE Gati Limited