Allcargo Logistics skids after Q4 PAT tumbles 89% to Rs 6 cr

Allcargo Logistics dropped 3.88% to Rs 142.45 after the company's consolidated net profit tanked 89.1% to Rs 5.91 crore on 79% jump in net sales to Rs 3,349.31 crore in Q4 March 2021 over Q4 March 2020.

Profit before tax slumped 76.2% to Rs 15.52 crore in Q4 FY21 as against Rs 65.25 crore in Q4 FY20. The Q4 earnings were announced after trading hours yesterday, 23 June 2021.

Revenue from Multimodal Transport Operations jumped 60.90% to Rs 2,723.89 crore in Q4 March 2021 from Rs 1,692.88 crore in Q4 March 2020. Revenue from Container Freight Station Operations climbed 31.41% to Rs 131.35 crore in Q4 March 2021 as against Rs 99.95 crore in Q4 March 2020. Revenue from Express Distribution stood at Rs 406.63 crore in Q4 March 2021.

During the financial year, Allcargo Logistics' consolidated net profit tumbled 59.41% to Rs 95.11 crore on 42.90% increase in revenue from operations to Rs 10,498.10 crore in FY 2021 over FY 2020.

Meanwhile, the board has approved raising of funds upto Rs 1,000 crore by way of an issuance of secured/ unsecured non - convertible Debentures and/or bonds on a private placement basis in one or more tranche (s) from time to time, subject to approval of the members at the ensuing 28th Annual General Meeting (AGM) of the company.

Allcargo Logistics is a logistics firm. Its services comprise global multimodal transport operations, pan-India container freight stations, inland container depots, third-party logistics, warehousing, contract logistics and logistics parks.

Powered by Capital Market - Live News