Transportation Company Gati has offloaded 40% stake in its shipping subsidiary, Gati Ship to city based Riba Constructions for Rs 8 crore. The company plans to further divest in the shipping division and eventually hold minority stake. Gati’s shipping business, in total, has been valued at Rs 20 crore.
Gati reported Rs 7.5 crore net profit for the quarter ended March 31, 2013 as compared to a net loss of Rs 3.5 crore for the corresponding quarter of last year. The total consolidated revenue of group rose by 23.34% for the reporting quarter at Rs 317 crore against Rs 257 crore for the corresponding quarter of previous year.
Gati is a leading player in express distribution and logistics and operates through two divisions - Express Distribution & Supply Chain (EDSC) and Coast- to-Coast (C2C) division. It also operates two container yards at Chennai and Port Blair which increases capability and provides for efficient handling of the cargo.
| Company Name | CMP |
|---|---|
| Allcargo Logistics | 9.85 |
| TVS Supply Chain Sol | 125.25 |
| Container Corp | 535.00 |
| Delhivery | 478.95 |
| Mahindra Logistics | 397.80 |
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