VRL Logistics Q4 net profit up multi-fold at Rs37.16cr on higher top-line leading to better fixed cost absorption

VRL Logistics Ltd reported 20.54% yoy rise in consolidated net revenues for the Mar-21 quarter at Rs600.06cr

Jun 12, 2021 08:06 IST India Infoline News Service

VRL Logistics Ltd reported 20.54% yoy rise in consolidated net revenues for the Mar-21 quarter at Rs600.06cr. On a sequential basis, net sales revenues were up 6.5% compared to total revenues in the Dec-20 quarter at Rs563.42cr.

Full year revenues for FY21 were -16.6% lower Rs1,776cr. During the quarter, the major goods transport business was up on the back of pick up in freight demand. The sharp spike in demand for moving COVID vaccines across India also opened up a huge window of opportunity for VRL Logistics for overall services.

Net profits in the Mar-21 were up 17X at Rs37.16cr on the back of higher sales leading to a sharp improvement in the absorption of fixed costs. In terms of vertical EBITDA growth, the profit growth led by a 5X EBITDA growth of the goods transport vertical. The bus operations vertical saw negative EBITDA in the quarter due to revenue pressure.

Net margins at 6.19% in the Mar-21 quarter was better than 0.43% in Mar-20 quarter and lower than 7.05% in the sequential Dec-20 quarter. VRL Logistics is also planning a Rs60cr buyback of shares.


Financial highlights for Mar-21 compared yoy and sequentially


VRL Logistics Ltd
Rs in Crore Mar-21 Mar-20 YOY Dec-20 QOQ
Total Income (Rs cr) ₹ 600.06 ₹ 497.83 20.54% ₹ 563.42 6.50%
Net Profit (Rs cr) ₹ 37.16 ₹ 2.14 1636.45% ₹ 39.74 -6.49%
Diluted EPS (Rs) ₹ 4.21 ₹ 0.24 ₹ 4.40
Net Margins 6.19% 0.43% 7.05%

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