On month on month (MoM) basis, the firm's total volume grew by 8% in May as against 90 kt in April 2023.

The logistics solution provider said that May volumes continued to show an improving trend. Preparations for upcoming festive season have started with uptick seen in the last week of May. This should continue over the coming months. Moreover, West zone volumes witnessed a positive trend following the launch of its new superhub at Bhiwandi, it added.

Volume remained healthy year on year despite a strong base. Q1 FY23 was a very strong quarter as market dynamics led to certain consolidation that benefitted few players leading to exceptional volumes in the base quarter, the company stated.

Gati is primarily engaged in the business of E-commerce logistics, Integrated Freight Forwarding (Domestic and International) and running of fuel stations.

On consolidated basis, the company reported net loss of Rs 16 crore in Q4 FY23 as compared with net loss of Rs 22.38 crore in Q4 FY22. Net sales jumped 10.3% year on year to Rs 415.67 crore in Q4 FY23.