Gati, engaged in express distribution and supply chain solution, witnessed a sharp fall in share price on Friday after it announced a steep drop in consolidated net profit for the quarter ended June 2015.  During the quarter, the profit of the company declined 31.91% to Rs 78.30 million from Rs 115 million  in the same quarter previous year.

Revenues for the quarter  rose marginally 4.84% to Rs 4,162.40 million, compared with Rs 3,970 million for the prior year period.

Shares of Gati are trading at Rs 183.25, down Rs 14.65, or 7.40% at the Bombay Stock Exchange (BSE) on Friday at 9:51 a.m.

The scrip has touched an intra-day high of Rs 188 and low of Rs 179.30. The total volume of shares traded at the BSE is 268,883.