Allcargo Logistics Ltd's total revenue in Q3FY18 grew 4.9% yoy to Rs1,479.9cr vs. Rs1,411.4cr in Q3FY17. EBITDA in Q3FY18 declined by 6.1% yoy to Rs93.3cr vs. Rs99.3cr in Q3FY17. EBITDA margins in Q3FY18 was at 6.3% vs. 6.77% in Q2FY18 and 7.04% in Q3FY17. Net profit in Q3FY18 declined by 33.9% yoy to Rs32.2cr vs Rs48.7cr in Q3FY17
Multimodal Transport Operations (MTO) total volumes grew by 7.4% yoy to 1,44,646 TEUs in Q3FY18 vs. 1,34,715 TEUs in Q3FY17.
MTO revenue grew by 10% yoy to Rs1,327cr in Q3FY18. Realizations per TEU grew 2.5% yoy.
Container Freight Stations (CFS) total volumes were at 71,764 TEUs. CFS revenue declined 15.1% yoy to Rs94cr in Q3FY18 vs. Rs111cr in Q3FY17.
Revenue from Project & Engineering Solutions (P&E) declined by 36% yoy to Rs71cr in Q3FY18 vs. Rs111cr in Q3FY17.
The revenue growth was primarily driven by MTO business, while other businesses saw a pressure due to challenging global conditions and declining freight rates.
The decline in EBITDA was mainly on account of the lease rentals of managing the CFS in Mundra and reduced contribution from P&E due to decrease in asset utilization and prudent policy of provision for doubtful debt.
Allcargo Logistics Ltd ended at Rs. 196.60, up by 4.65 points or 2.42% from its previous closing of Rs. 191.95 on the BSE.
The scrip opened at Rs. 195 and touched a high and low of Rs. 197.65 and Rs. 193.50 respectively. A total of 2,08,219(NSE+BSE) shares were traded on the counter. The stock traded above its 50 DMA.
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