Allcargo Logistics Q2 net profit spurts up to ₹36.99 crore in September 2024

Allcargo Logistics Ltd has reported a standalone net profit of ₹36.99 crore in September 2024, up 161 per cent from ₹14.17 crore in September 2023. Net sales stood at ₹689.80 crore in September 2024, up 79.43 per cent from ₹384.43 crore in September 2023.

Less-than-container load (LCL) volume for the quarter ended September 2024 stood at 2.37 million CBM, depicting 4 per cent growth over the quarter ended September 2023 and 5 per cent over the quarter ended June 2024. LCL, the amount of space a shipment occupies in a container, is usually measured in cubic metres (CBM)

Full container load (FCL) volume for the quarter stood at 164K TEUs, up 7 per cent over the same period last year and 5 per cent over the quarter ended June 2024. Air volume for the quarter ended September 2024 stood at 2.65 million kilos. This represents 14 per cent growth compared to last year, and a 4 per cent decline as compared to the last quarter.

“Volume growth was witnessed during the quarter on the back of improved global trade and the company’s growth initiatives. As highlighted, a seasonal decline was experienced across all regions towards the end of the quarter,” the company said.

The contract logistics business has reported revenue growth of 46 per cent on a YoY basis, and 22 per cent on a QoQ basis, on the back of new client additions and increased wallet share from existing clients.