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Allcargo Logistics Q1 consolidated net profit up 19 pc to Rs 64 cr

Press Trust of India  |  New Delhi 

Allcargo Logistics Limited on Wednesday reported a 19 per cent increase in consolidated net profit to Rs 64 crore for the quarter ended June 30, 2019.

The logistics firm had clocked a net profit of Rs 54 crore for the corresponding quarter of the previous fiscal, it said in a regulatory filing to the BSE.

Total income during the quarter under review increased to Rs 1,821.58 crore as against Rs 1,630.09 crore in the corresponding period a year-ago.

Total expenses also rose to Rs 1,741.09 crore during the period as against Rs 1,570.48 crore in the year-ago period.

The company in a statement said the "Return on capital employed stands at 14 per cent" and "86 per cent of the revenues are from the global MTO (Multimodal Transport Operations) business".

It said "the business clocked total volumes of 1.84 lakh TEUs for the quarter ended June 30, 2019 as against 1.74 lakh TEUs for the corresponding previous period, an increase of 6 per cent".

It said as part of the logistics park offering, the company plans to build a nationwide warehousing footprint of 5 million sq ft by 2021 through strong connectivity to industrial hubs and transport routes.

The statement said Allcargo has a strong presence in the business of contract logistics through its approximately 61.13 per cent stake in joint venture Avvashya CCI Logistics Private Limited (ACCI).

As on June 30, 2019, the total equity was Rs 2,077 crore and the net debt was Rs 475 crore, it said.

Allcargo operates primarily in four segments -- multimodal transport operations, container freight stations operations/inland container depot operations, project and engineering solutions and logistics park.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, August 07 2019. 20:40 IST