Shares of logistics company Gati took a beating in Thursday's trade, losing nearly one-fifth of market value, after the company said its net profit declined 21 per cent to Rs 11.07 crore in the December quarter. The company had reported a profit after tax of Rs 14 crore for the corresponding quarter last year.
Income from operations fell 1.3 per cent YoY for the third quarter to Rs 417.80 crore against Rs 423.30 crore in the year-ago quarter.
The Stock fell 18 per cent to hit its 52-week low of Rs 97.65 on BSE. It was the top loser among the group A stocks.
Volumes soared. A total of 11.66 lakh shares changed hands on the counter, compared with a two-week average of 2.76 lakh shares. Peer group stock Blue Dart was trading 1.04 per cent higher at Rs 6,069.90. Allcargo Logistics stood at Rs 172.95, up 2.25 per cent.
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