Allcargo Logistics' Q1FY23 PAT soars 165% y-o-y at Rs280 crore

11 Aug 2022 , 12:51 PM

Allcargo Logistics Limited announced its results for the quarter ended June 30, 2022.

The company logged consolidated revenue of Rs5,675 crore in Q1FY23, up by 65% y-o-y against Rs3,449 crore in the previous corresponding quarter.

Company’s EBITDA during the June 2022 quarter grew by 100% yoy at Rs434 crore compared to Rs217 crore in the June 2021 quarter.

Allcargo reported a net profit of Rs280 crore in Q1FY23, clocking a substantial 165% yoy growth against Rs106 crore in the same quarter previous year.

The company accredited the continued positive momentum in growth over last year to its strategic and transformational initiatives undertaken. Revenues from the digital platform ECU360 have steadily increased, accounting for more than 60% of export bookings across all key markets.

The company recently announced its intention to restructure its express and contract logistics businesses and is in talks with its express JV partner to buy out their shareholding.

Allcargo outlined in its media reports that despite disruptions in rail operations caused by the Ukraine war, it continues to perform extremely well with all acquisitions. It has outperformed market growth rates in several key countries, including India, the United States, Canada, Thailand, and various parts of Europe.

Allcargo Logistics was trading at Rs303.05 up 0.2% from its previous closing of Rs302.45 on the BSE. The scrip touched intraday high and low of Rs316 and Rs301 respectively.