{"id":2286,"date":"2023-11-01T08:54:52","date_gmt":"2023-11-01T08:54:52","guid":{"rendered":"https:\/\/develop.lotka.com\/?p=2286"},"modified":"2023-11-14T10:44:07","modified_gmt":"2023-11-14T10:44:07","slug":"gati-express-business-delivers-robust-volume-growth-bengaluru-super-hub-now-operational","status":"publish","type":"post","link":"https:\/\/develop.lotka.com\/?p=2286","title":{"rendered":"Gati Express Business\u2019 Delivers Robust Volume Growth; Bengaluru Super-Hub Now Operational"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

Volume growth of 18% YoY driven by festive demand. For Q2FY24, consolidated revenue was up 1% YoY and the EBITDA declined 26% YoY.<\/p>\n\n\n\n

Allcargo Gati Limited (formerly GATI) one of India\u2019s leading premier Express Distribution and Supply Chain Management company, has reported its unaudited financial results for the quarter ended September 2023.<\/p>\n\n\n\n

Financial Highlights for Express Business<\/h1>\n\n\n\n

Our express business is housed under Gati Express and Supply Chain Pvt. Ltd. (GESCPL), formerly known as Gati KWE (GKEPL).<\/p>\n\n\n\n

Particulars (in \u20b9 Crs)<\/strong><\/td>Q2FY24<\/strong><\/td>Q2FY23<\/strong><\/td>Y-o-Y<\/strong><\/td>Q1FY24<\/strong><\/td>Q-o-Q<\/strong><\/td><\/tr>
Revenue<\/strong><\/td>385<\/td>370<\/td>+4%<\/strong><\/td>367<\/td>+5%<\/strong><\/td><\/tr>
EBITDA<\/strong><\/td>15<\/td>21<\/td>-27%<\/strong><\/td>18<\/td>-15%<\/strong><\/td><\/tr>
Profit Before Tax (PBT)*<\/strong><\/td>-8<\/td>6<\/td>NM<\/strong><\/td>-5<\/td>NM<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

*pre-exceptions<\/p>\n\n\n\n

For Q2FY24, consolidated revenue was up 1% YoY and the EBITDA declined 26% YoY.<\/p>\n\n\n\n

Commenting on the results Mr. Pirojshaw (Phil) Sarkari, Managing Director and Chief Executive Officer of GESCPL said: <\/strong>\u201cOur express business witnessed strong volume growth during the quarter driven by a pickup in festive demand. Q2FY24 volumes were up 18% YoY to 333 kt. We are delighted to inform the operational launch of our Bengaluru super hub.<\/em><\/p>\n\n\n\n

Continuing our operational excellence efforts, we appointed Sandeep Digambar Kulkarni as Chief Operating Officer (COO) of GESCPL, our material subsidiary w.e.f November 01, 2023. Sandeep comes with 22+ years of experience across large companies like L&T, Amazon, Jio Mart, and Tata Cliq, besides serving the Indian Navy.<\/em><\/p>\n\n\n\n

We also designed a dedicated tele-sales team focussing on MSME customers. Additionally, the nation- wide Gati Associates training program is well underway covering 783 of 3,000 associates in the first phase.<\/em><\/p>\n\n\n\n

Under parent company Allcargo Group\u2019s ESG vision to achieve carbon neutrality by 2040 it is aggressively adopting green mobility through alternate fuel vehicles. We have set a clear target of 2026 to convert entire first and last mile deliveries to alternative fuels in India.\u201d<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Volume growth of 18% YoY driven by festive demand. For Q2FY24, consolidated revenue was up 1% YoY and the EBITDA declined 26% YoY. Allcargo Gati Limited (formerly GATI) one of… <\/p>\n","protected":false},"author":1,"featured_media":2287,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","footnotes":""},"categories":[32],"tags":[],"yoast_head":"\nGati Express Business\u2019 Delivers Robust Volume Growth; Bengaluru Super-Hub Now Operational -<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/develop.lotka.com\/?p=2286\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gati Express Business\u2019 Delivers Robust Volume Growth; Bengaluru Super-Hub Now Operational -\" \/>\n<meta property=\"og:description\" content=\"Volume growth of 18% YoY driven by festive demand. 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