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Friday, Sep 30, 2005

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Gati to invest Rs 50 cr to upgrade warehouses

Our Bureau

Hyderabad , Sept. 29

GATI, a leading logistics solutions company, is planning to invest Rs 50 crore next year in building intelligent warehouses, while setting up an overseas subsidiary.

The company posted a net profit of Rs 10.37 crore during 2004-05, showing a growth of 87 per cent over the previous year (Rs 5.55 crore). The total income for the year stood at Rs 361 crore (Rs 309 crore), a growth of 17 per cent.

The market capitalisation of the company has grown to Rs 263 crore, post rights issue, compared to Rs 65 crore last year, it said in a press release.

The company also informed the Bombay Stock Exchange that it would set up a subsidiary overseas to expand its international business.

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