Allcargo Gati Limited (formerly GATI) one of India’s leading premier Express Distribution and Supply Chain Management company, has reported its unaudited financial results for the quarter ended December 2023.
Financial Highlights for Express Business
Our express business is housed under Gati Express and Supply Chain Pvt. Ltd. (GESCPL), formerly known as Gati KWE (GKEPL).
| Particulars (in ₹ Crs) | Q3FY24 | Q3FY23 | Y-o-Y | Q2FY24 | Q-o-Q |
| Revenue | 371 | 379 | -2% | 385 | -4% |
| EBITDA | 7 | 21 | -66% | 15 | -15% |
| Pre-exceptional (PBT) | -18 | 1 | NM | -9 | NM |
| Post-exceptional (PBT) | -11 | -0.5 | NM | -9 | NM |
Commenting on the results Mr. Pirojshaw (Phil) Sarkari, Managing Director and Chief Executive Officer of GESCPL said: “Express business volumes during the quarter witnessed strong growth. Q3FY24 volumes were up 11% as compared to same quarter last year. We have been clocking approx. 100K tons of volume on a monthly basis consistently. This is a testament of our improved service performance and sales acceleration initiatives.
Would like to highlight that we have appointed Mr. Uday Sharma as the Chief Commercial Officer (CCO) of GESCPL, our material subsidiary. Uday comes with 25+ years of experience across companies like Delhivery, Spoton and Safexpress.
On the technology front I would like to mention that development of GEMS 2.0 is in progress.”
