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Express distribution and supply chain solutions provider Gati Ltd’s consolidated net profit decreased to ₹2.03 crore in the first quarter ended June 30, 2019, compared to ₹5.61 crore in the corresponding quarter of previous year.
That is a 64 per cent drop in net while total revenue remained almost flat at ₹460 crore. “The GDP growth in the first quarter has reportedly slowed to a five-year low. Some of our key customer verticals namely automobile, healthcare, e-commerce and telecom, showed a sluggish growth and even a de-growth in the quarter resulting in a direct impact on Gati,’’ said Mahendra Agarwal, founder and CEO, Gati.
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