Allcargo Logistics gains after Q3 PAT rises to Rs 355 cr

14 Feb 2022 , 12:58 PM

Consolidated net sales surged 114.61% to Rs 5869.05 crore in Q3 December 2021 over Rs 2734.68 crore in Q3 December 2020. Pre-tax gains stood at Rs 438.80 crore in Q3 FY22 as against pre-tax gains of Rs 40.09 crore in Q3 FY21. EBITDA grew 242% to Rs 505 crore in Q3 FY22 over Rs 148 crore in Q3 FY21.

The company has put strong focus on attracting and retaining top talent and demonstrated strong performance on acquisitions. There has been a strong contribution from surge in digital revenue and cost optimisation through automation across end to end processes. The international supply chain business (MTO segment) witnessed a sustained growth on the back of volume growth and expansion in market share in favourable market conditions. Transformation continues to drive sales acceleration and value addition across trade lanes has witnessed increases share of door to door component in business. Digital initiatives with industry leading platform ECU360 continue provided superior service experience to customers.

The CFS-ICD business continued to deliver good performance and the acquisition of Speedy Multimodes has further added strength to the business. Volume handled for the quarter stood at 1,47,433 twenty-foot equivalent (TEUs) as against 81,666 TEUs for the same quarter last year. The express logistics business under Gatis subsidiary, GKEPL reported its highest ever volume and revenue at Rs 353 crore for the quarter. It continues to witness growth momentum.

The contract logistics business continued to demonstrate resilience with revenue and profit showing significant growth in the quarter. The business is under ACCI, where Allcargo Logistics owned near 61% shareholding. ACCI has customs clearance business. ACCI witnessed a growth of 26% in revenue, and EBITDA increased 25% from Rs 28.4 crore in Q3 FY21 to Rs 35.4 crore in Q3 FY22. The company manages nearly 5 million sq ft warehousing area under its operations.

Commenting on the Q3 performance, Shashi Kiran Shetty, the chairman of Allcargo Logistics, ECU Worldwide and Gati, said, The Company has managed to deliver strong performance in this quarter driven by digitally-advanced integrated logistics framework. The business has demonstrated strong resilience and growth on the back of value addition across the service offerings. The transformation-led initiatives have strengthened our capabilities. While adopting the asset-light model, well continue to deliver sustainable value to our clients and all stakeholders. Further, the recently announced demerger will help businesses boost growth in the long term.

We are proud of our continued success with acquisitions across businesses. Our proactive approach has allowed us to target strategic highly value accretive acquisitions and recent acquisitions in Nordics and India and our JV in Korea have outperformed strongly, he further added.

Allcargo Logistics is Indias largest integrated logistics solutions provider.

Powered by Capital Market – Live News