Gati, engaged in express distribution and supply chain solution, witnessed a fall in share price on Wednesday after the company announced a steep drop in consolidated net profit for the quarter ended December 2016. During the quarter, the profit of the company declined 35.07% to Rs 49.80 million from Rs 76.70 million in the same quarter last year.

Revenues for the quarter rose marginally 1.69% to Rs 4,248.70 million, compared with Rs 4,178 million for the prior year period.

Shares of Gati are trading at Rs 123.25, down Rs 2.05, or 1.64% at the Bombay Stock Exchange (BSE) on Wednesday at 9:48 a.m.

The scrip has touched an intra-day high of Rs 124.00 and low of Rs 122.25. The total volume of shares traded at the BSE is 44,591.

Total volume of shares traded on the bourses today was lower by 78.76% to 239,093 compared with 22-day average volume of 1,125,537.