Allcargo Logistics reported a 41 percent decline in consolidated net profit at Rs 10.3 crore for the third quarter ended December 31, 2024 compared to the same period last year.
Consolidated income from operations increased 28 percent to Rs 4,106, according to filings with exchanges. Highlights of the quarter:
*LCL volume for the quarter stood at 2.20 million CBM, depicting a growth of two percent over the same period last year. FCL volume for the quarter stood at 170K TEUs, up 11 percent over the same period last year. On a YTD basis, LCL volume grew by two percent and FCL volume was up nine percent.
*Air volume for the quarter ended December 2024 stood at 8.14 million kilos, an increase of five percent YoY. On a YTD basis, air volume increased 23 percent.
*The contract logistics business has reported a revenue growth of 62 percent on a YoY basis on the back of new client addition and increased wallet share from existing clients.
*Express business continues to show improvement on the back of cost initiatives, and registered the highest ever quarterly volume.
For the first nine months of the current financial year, consolidated revenue from operations increased 25 percent to Rs 12,220 crore. Net profit declined 66 percent to Rs 52.3 crore.