Express distribution and logistics services company Gati Limited has posted a net profit of Rs 12.49 crore for the second quarter ended September 30, 2014 as against a net profit of Rs 5.76 crore for the corresponding quarter, thereby registering a growth of 117 per cent on a consolidated basis.

The company income was up 13 per cent for the second quarter at Rs 414.91 crore as against Rs 366.9 crore for the same period last year.

For the first half ended September 30, 2014, the company registered a profit of Rs 27.54 crore, up 112 per cent over Rs 12.97 crore for the corresponding quarter last year. The consolidated income was up 18 per cent at Rs 815 crore over Rs 693 crore for the corresponding period last year.

In a statement, the company said it now delivers over 6 million packages per month across 667 districts in India.

Raises Rs 150 crore

During the quarter, Gati Kausar India Limited, the company’s old chain arm, raised Rs 150 crore from funds managed by Mandala Capital Limited. Of this amount, Rs 30 crore has been invested in the form of equity shares and compulsory convertible preferential shares and the remaining Rs 120 crore shall be invested in the form of non-convertible bonds. The funds would be utilised for building a network of cold warehouses across the country.

Mahendra Agarwal, Founder-CEO of Gati Limited, said, “The investment in Gati Kausar will give us the impetus to position ourselves as the end-to-end solutions provider for the cold chain industry. With the expansion of cold chain warehouses across the country in the next three years, we will emerge leaders in this sector too.”

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