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Gati Limited has posted a consolidated net profit of Rs 8.4 crore for the second quarter ended September 30, 2106 as against a profit of Rs 8.3 crore for the corresponding quarter last year.
The express distribution and supply chain solutions company posted a consolidated revenue of Rs 425.64 crore for the second quarter, as against Rs 404.94 core, for the same period last year.
The company announced it has invested in BrownTape Technologies, a cloud-based software solutions company which helps online merchants manage their order for multiple e-commerce marketplaces.
“The relationship with BrownTape will form an important part of the company's long-term growth strategy. The alliance will work on the vision of simplifying e-commerce for all levels of online sellers,” Dhruv Agarwal, Chief Strategy Officer of Gati, said.
Mahendra Agarwal, Founder & CEO of Gati, said, “Despite soft business environment in the quarter, we are encouraged by a number of factors that will contribute to the long term growth of our supply chain solutions portfolio. The GST rollout will help unlock the much needed efficiencies in the way businesses operate today and we are distinctively positioned with our network and technology to support this transition.”
“BrownTape allows us to provide unique single window solution to online sellers by integrating our logistics capabilities with BrownTape order management platform,” he said.
Referring to Gati Kintetsu Express, the company said it successfully stabilised its technology automation initiative that ensures 100 per cent package visibility across pan-India network.
Gati E-Commerce Logistics had made a strategic investment in BrownTape. Gati commissioned its fully automated package sorting facility at its strategic hub in North region.
The company stated that Gati Kausar commenced commercial operations of its Refrigerated Express Distribution Centre with the capacity of 5600 pallet positions in the NCR region.
Gati shares closed the day at Rs 138.30, down 3.76 per cent at BSE.
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