Allcargo Logistics Q2 Results: Net profit zooms 161% to Rs 37 crore

By

, ET BureauLast Updated: Nov 14, 2024, 07:28:00 PM IST

Synopsis

Allcargo Logistics has clocked a net sales of Rs 689.80 crore in Q2 of FY25 up 79.43% from Rs 384.43 crore in Q2 of FY24. The quarterly net profit of the company stood at Rs 36.99 crore in Q2 of FY25 up 161.04% from Rs. 14.17 crore in Q2 of FY24.

Allcargo Logistics has clocked a net sales of Rs 689.80 crore in Q2 of FY25 up 79.43% from Rs 384.43 crore in Q2 of FY24. The quarterly net profit of the company stood at Rs 36.99 crore in Q2 of FY25 up 161.04% from Rs. 14.17 crore in Q2 of FY24.

EBITDA of the company stood at Rs 30.66 crore in September 2024 up 28.02% from Rs 23.95 crore in September 2023.

LCL volume for the quarter ended September 2024 stood at 2.37 million CBM, depicting a growth of 4% over the quarter ended September 2023 and 5% over the quarter ended June 2024. FCL volume for the quarter stood at 164K TEUs, up 7% over the same period last year and 5% over the quarter ended June 2024.

Air volume for the quarter ended September 2024 stood at 2.65 million kilos. This represents a growth of 14% compared to last year and a decline of 4% as compared to the last quarter.

Volume growth was witnessed during the quarter on the back of improved global trade and the company's growth initiatives. As highlighted, seasonal decline was experienced across all regions towards the end of the quarter.

The contract logistics business has reported revenue growth of 46% on a YoY basis and 22% on a Q-o-Q basis on the back of new client additions and increased wallet share from existing clients.

The EBITDA of express business continues to show improvement on the back of cost initiatives. For Q2FY25 EBITDA was up 26% as compared to the same period last year. October 2024 was a landmark month for express business; it registered the highest-ever monthly volume, with a total of 118kt.

...moreless

...moreless