Q4FY23 Quarterly & FY23 Annual Result Announced for Gati Ltd.
Transportation-logistics company Gati announced Q4FY23 & FY23 results: Q4FY23 vs Q4FY22: Revenue: Rs 356 crore vs 320, up 11% YoY EBITDA: Rs 12 crore vs Rs 4 crore, up 200% YoY Profit before tax: Rs -10 crore down from Rs -6 crore in Q4FY22 FY23 vs FY22: Revenue: Rs 1,469 crore vs Rs 1,242 crore, up 18% YoY EBITDA: Rs 72 crore vs Rs 36 crore, up 103% YoY Profit before tax: Rs 2 crore up from Rs -8 crore in FY22 Commenting on the results Pirojshaw (Phil) Sarkari, Chief Executive Officer of Gati said: “The company has recorded a revenue of Rs 1,469 crore in FY23 for the express business, witnessing a growth of 18% as compared to the last year. This performance reflects the company’s focus on volume growth and operational efficiency. The year saw Gati launching its mega surface transhipment hub at Bhiwandi (Mumbai), in addition to hubs at Nagpur and Guwahati. The Mumbai hub is spread over 1.15 lac square feet with 61 bays and a dock leveller. We also saw 100% implementation of digital e-dockets for retail clients and have started a pilot for MSMEs. The gross margin expansion remains on track, witnessing an improvement of 133 bps over the last year. In the next phase of infrastructure development, we’ll be setting up four surface transhipment hubs in Bengaluru, Hyderabad, Indore and Kolkata.” Result PDF22-05-2023