ICICI Securities Ltd | Retail Equity Research Gati's consolidated revenue for Q3FY17 sequentially remained flattish (up 2% YoY) to | 424.9 crore (I-direct estimate: | 411 crore). Higherthan-expected growth was on account of growth of 9% in standalone revenues to | 130.8 crore, primarily driven by higher e-commerce revenues (up 13% YoY) and improved fuel sales (up 24% YoY). Ecommerce now contributes ~45% of overall standalone revenues. Revenues from KWE and Kausar continue to remain weak with degrowth of 4% YoY each to | 276 crore and | 10.7 crore, respectively Higher cost of sales coupled with increased employee expenses was partly offset by lower operating expenses. Subsequently, EBITDA for...