VRL Logistics Ltd's Q1FY19 standalone net profit declines 28.3% yoy to Rs24.19cr : Misses Estimates

The company’s standalone revenue stood at Rs528.47cr, up 7.44% yoy and 8.03% qoq.

Aug 12, 2018 03:08 IST India Infoline Research Team

VRL Logistics Ltd Q1FY19

Standalone Results Q1FY19: (Rs. in cr)

Q1FY19 YoY (%)
Revenue 528.47 7.4
EBITDA 60.20 [16.6]
EBITDA Margin (%) 11.4 [329]
Net Profit (adjusted) 24.19 [28.3]
***EBITDA margin change is bps

VRL Logistics' revenue in Q1FY19 grew by 7.4% yoy to Rs528.5cr. EBITDA in Q1FY19 declined by 16.6% yoy to Rs60.2cr vs. Rs72.2cr in Q1FY18. EBITDA margins in Q1FY19 declined by 329bps yoy to 11.4% vs. 15% in Q1FY18. PAT declined by 28.3% yoy to Rs24.2cr in Q1FY19.
  • During Q1FY19 Freight handling and servicing cost grew by 12.8% yoy to Rs373cr. In % of sales term, this cost stood at 70.6% in Q1FY19 vs. 71.8% in Q4FY18 and 67% in Q1FY18.
  • Higher freight handling and servicing costs led to decline in the EBITDA margins for the company in Q1FY19.
  • Revenue from goods transport segment grew by 9.4% yoy to Rs409.8cr in Q1FY19. EBITDA margins of this segment declined by 331bps yoy in Q1FY19.
  • Revenue from bus operations grew by 3.8% yoy to Rs107.2cr in Q1FY19. EBITDA margins of this segment decreased by 490bps yoy in Q1FY19
  • Company has total fleet of 4,507 vehicles, while available capacity is 53,180 tonnes in Q1FY19.

Technical View:

VRL Logistics Ltd ended at Rs. 318.70, down by 11.75 points or 3.56% from its previous closing of Rs. 330.45 on the BSE.
The scrip opened at Rs. 330 and touched a high and low of Rs. 332.80 and Rs. 316.05 respectively. A total of 76,059 (NSE+BSE) shares were traded on the counter. The stock traded above its 200 DMA.

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