GATI Q4FY18 loss widens due to one-time expense

GATI reported its results for the quarter ended March 31, 2018. The company’s consolidated revenue for the quarter came in at Rs. 454.58 crore, registering 9.6 per cent yoy increase.

EBITDA for the quarter fell by 14.5 per cent yoy to Rs. 15.47 crore with a corresponding margin contraction of 96 bps. EBITDA margin for the quarter stood at 3.4 per cent. This margin contraction was partly led by 10 per cent yoy rise in the operating expenses.

The company reported net loss for the quarter at Rs. 4.77 crore vs net loss of Rs. 1.93 crore in the corresponding quarter last year. This includes exceptional item of Rs. 23.60 crore which represents invocation of corporate guarantee in favour of financial institution, which has been challenged by the company.

Looking at the full year numbers, we see that revenue jumped by 3 per cent to reach Rs. 1,735.75 crore while EBITDA fell by 20 per cent to Rs. 77.1 crore. The company reported net profit of Rs. 39.11 crore, up 128 per cent yoy.

The company's board of directors has recommended a final dividend of Rs. 0.90 per equity share of the face value of Rs 2 each.

On Wednesday, the stock opened at Rs. 97 and made an intraday high and low of Rs. 101 and Rs. 95.10, respectively, on the BSE. At 10:52, the stock was trading around at Rs. 99.45 on the BSE.