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Logistics and supply chain company Gati Ltd posted a lower net profit of Rs 3.60 crore for the third quarter ended March 31, 2011 as against Rs 4.11 crore for the corresponding period last year.
However, its total income of Rs 228.8 crore in the third quarter was up 21 per cent against Rs.189.4 crore for the corresponding quarter of the previous year.
EBITDA grew by 23 per cent at Rs 25 crore against Rs 20.3 crore.
The consolidated revenues registered a growth of 32.3 per cent from Rs 692.9 crore to Rs 916.4 crore for the nine months ended March 31, 2011 over the corresponding period last year.
Net profit remained flat at Rs 10.53 crore (Rs. 10.22 crore).
The Express Distribution & Supply Chain Division has shown a robust growth in revenue of 23 per cent to Rs 202.5 crore against Rs. 164.3 crore and a 34 per cent growth in EBITDA to Rs 21.3 crore from Rs 15.9 crore for the corresponding quarter in the previous year.
The EBITDA growth was due to operational efficiency from several measures, including route rationalisation and better vendor management.
Coast to coast segment
The Coast-to-Coast (shipping) division has registered a revenue growth of 5.4 per cent to Rs 26.4 crore for the third quarter from Rs. 25.1 crore in the corresponding quarter in the previous year.
However, EBITDA has decreased marginally because of increase in operational costs.
Mr Mahendra Agarwal, Founder and CEO, Gati Ltd, in a statement said “we are focusing on total logistic solutions to customers and have strengthened our service offering in supply chain solutions, cold chain solutions and express distribution.”
“We are expecting to close the financial year 2011 with consolidated revenue of Rs 1,300 crore,” he said.
e-commerce offerings
The company plans to strengthen the e-commerce service offerings, set up temperature-controlled warehouses in Delhi, Bangalore and Mumbai.
Gati launched a new parcel train service from Erode–Chennai–Kalyan–Vapi and back to Erode.
Gati operates 29 millennium parcel cargo express trains every month.
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