Home >Companies >Allcargo Logistics Q2 profit rises 51.06% to Rs63.63 crore

Mumbai: Port-based logistics company Allcargo Logistics Ltd reported 51.06% increase in its net profit to 63.63 crore for the quarter ended 30 September from 42.12 crore a year ago.

Total income from operations rose by 36.33% to 1,461.72 crore in the quarter from 1,072.16 crore from a year ago.

Earnings before interest, depreciation, tax and amortization (Ebitda), an indicator of operating profitability, rose 31% to 132.5 crore from 101.2 crore in the same period.

Allcargo operates primarily in three segments—multi-modal transport operations (MTO), container freight stations (CFS) and project and engineering solutions.

Director (finance) S. Suryanarayanan said the company saw robust volume growth from MTO and CFS operations were gaining momentum.

“Besides all other verticals have posting growth along with global businesses, the asset utilization has also gone up. Worst is behind us. As Indian government is keen on spending in the infrastructure side, the port volumes have started picking up along with business confidence," Suryanarayanan said.

However, he said the company is cautious about capital expenditure on MTO and CFS operations at this point of time. “We will be extra careful about capital expenditure other than investing on maintenance capital expenditure," he added.

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