
Shares of Gati Limited climbed 5 per cent in Monday's trade after the company announced its total volume data for June. Gati said its total volume, including surface and air express, for the month of June came in at 102kt, recording an increase of 14 per cent over June 2022. The company had reported a YoY volume growth of 3 per cent in May.
Volume performance in June continued to build on the momentum visible in May, Gati said in a BSE filing adding that the company saw pickup in orders from large customers as preparations for upcoming festive season gather pace. The company expects the momentum to continue in the coming months.
Following the development, the stock rose 6.2 per cent to hit a high of Rs 133.25 on BSE.
To recall, Gati has reported narrowing of loss at Rs 20 crore for the March quarter compared with Rs 30 crore in the year-ago quarter. Revenue for the quarter was up 10 per cent YoY at Rs 416 crore compared with Rs 377 crore in teh same quarte last year. Ebitda margin was up 183 basis points to 2.7 per cent from 0.9 per cent.
Gati is an express distribution and supply chain Management company offering end-to-end logistics solutions backed by digital tools and technology.
After strategically acquiring Gati in 2020, Allcargo Logistics is now the promoter and the single largest shareholder of Gati with more than 50 per cent ownership, followed by Japan’s Kintetsu World Express (KWE) with about 3.5 per cent shares in the company. Gati-Kintetsu Express Private Limited (Gati-KWE) is a Joint Venture between Gati and KWE where KWE holds 30 per cet stake and Gati holds the remaining 70 per cent.
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