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Gati's total volume, including surface and air express, reached 109 kiloton (kt), marking an 8% increase compared to September 2022, but a 3% decrease compared to August 2023. Despite the high base from the same month last year, Gati's growth momentum remained strong.
During the second quarter, Gati experienced robust pre-festive ordering, resulting in Q2FY24 volume of 333kt, showing an impressive 18% year-on-year growth.
Looking ahead, Gati expects the momentum to continue in the current month.
Additionally, the company has announced that its Bengaluru transhipment hub is now fully operational, which will enhance its services and further support its growth.
Gati is primarily engaged in the business of E-commerce logistics, Integrated Freight Forwarding (Domestic and International) and running of fuel stations.
The company reported consolidated net loss of Rs 1.67 crore in Q1 FY24 as compared with net profit of Rs 4.23 crore in Q1 FY23. Net sales fell 1.1% year on year to Rs 426.19 crore in Q1 FY24.
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