A 50% (YoY) reduction in interest rate is what helped Gati end Q1FY18 with a whopping 260% jump in consolidated net profit at Rs.18 crore. But for the cut down in interest outgo the Q1 picture could have been very ugly as its revenue growth was flat at less than 0.5% at Rs.427 crore.

EBITDA had actually contracted 33% at Rs.19 crore and the margins narrowed to 4.4% from 6.7%.

The market is very happy with the number and it is amongst the top five gainers on the BSE, going uo over 8% at Rs.116.50.