The Indian express provider has achieved year on year growth of over 100% in the segment for the eighth successive quarter.
In Q1 2016, the company’s consolidated income and net profit stood at INR4.2bn and INR1m respectively, against comparable numbers of INR3.99bn and INR150m in the corresponding quarter of the previous year. The company now delivers 260,000 packages every day across 672 of the 674 districts in India.
The total income for Gati‐KWE was at INR2.86bn. The company registered an EBIDTA of INR200m, and PAT of INR74m. The B2B express distribution business saw a year on year volume increase of 6.7%, and revenue growth of 5%.
Commenting on the company’s quarterly performance, CEO Mahendra Agarwal said, “In the months ahead, our economy is poised for an upward momentum due to the infrastructure push by the government, and the positive signals emanating from businesses across sectors. Riding on this positive trend, the logistics industry, being the backbone of our economy, will see greater acceleration in growth, as the year unfolds. Gati will continue to invest ahead in its network, people and systems to serve its large, and growing, customer franchise.”