Gati rises over 5% as Q1 net jumps three folds

NEW DELHI: Shares of Gati rose over 5 per cent on Wednesday after the company said that its profit jumped more than 3-fold to Rs 18.31 crore in June quarter.

Following the development, the stock gained 5.61 per cent to Rs 113.90 on BSE.

The company had reported Rs 5.11 crore profit in the corresponding quarter of last year. The numbers were led by rise in other income as the company redeemed 7528 out of 22,812 FCCBs and converted 7281 FCCBs into equity shares.

Revenue for the quarter rose to Rs 426.69 crore compared with Rs 425.54 crore in the same quarter last year. EBITDA for the quarter declined 27.7 per cent YoY to Rs. 26 crore. EBITDA margin for the quarter stood at 6.1 per cent.

An investor/analyst conference call was scheduled by the company on Wednesday at 3.30 pm.