Gati reported its profit, excluding non-recurring items, in its fiscal year 2013, which ended June 30, 2013, was 170 million Indian rupees (about US$2.8 million), versus 130 million rupees in the previous fiscal year.
Consolidated total income, excluding non-recurring items, for the Indian company was 12.9 billion rupees in fiscal year 2013, compared with 12.0 billion rupees last year. In the fourth quarter of fiscal year 2013, consolidated total income, excluding non-recurring items, was 3.3 billion rupees, up year-over-year from 3.0 billion rupees.
Furthermore, in the fourth quarter, Gati Kintetsu Express Private, the express distribution and supply chain solutions arm of Gati, reported revenue was up by 9 percent, from 2.2 billion rupees in the third quarter of fiscal year 2013 to 2.4 billion rupees in the fourth quarter. For the full year, the segment’s revenue rose 11 percent year-over-year. Gati Kintetsu Express Private also added 150 vehicles to its existing owned fleet, bringing the total fleet count to 351.
For the year, Gati Kausar, the cold chain solutions division of Gati, introduced 65 new refrigerated vehicles, bringing its total fleet size to 213, and extended its presence at Kanpur, Kolkata, Nagpur, Mumbai and Guwahati, India.
Additionally, Gati’s e-commerce segment has set up packaging centers at Delhi, Bangalore, Pune and Mumbai in India.
“Though the year had its share of challenges and the economy slowed down, we have made considerable progress and our flagship express distribution business has seen growth and effectively optimized costs despite the rising cost of fuel,” said Mahendra Agarwal, founder and CEO of Gati, in a written statement. “Our unique e-commerce service offering and the cold chain solutions business continued to show steep growth and we are confident that these divisions will grow to become a leader in the sector.”