Allcargo Logistics, Compared with the same month last year, net profit for the June quarter of 2021 has tripled to 1.06 billion rupees, thanks to sales growth and transformation initiatives. According to a statement, the integrated logistics company’s net profit in the first quarter of fiscal year 21 was 300 million rupees. The June quarter of the previous fiscal year recorded Rs 2,077 crore.
Allcargo Logistics stated that due to the number expansion and transformation measures carried out under favorable market conditions, the multimodal transport business has achieved continuous growth. Allcargo Logistics stated that due to the number expansion and transformation measures carried out under favorable market conditions, the multimodal transport business has achieved continuous growth. In addition, the ECU360 digital platform continues to make progress and is increasing its share of general reserves, he added.
In a challenging environment, based on our digital integrated logistics framework and a strong process of change and transformation, we achieved a strong performance this quarter. Overall, the business has shown resilience and sales growth in the quarter,” said Shashi Kiran Shetty, President of Allcargo Logistics, ECU Worldwide and Gati Ltd., adding that the company will continue to create value for its stakeholders by further improving the group- Wide attention is paid to asset-light methods and digitalization to drive growth and profitability. Despite the challenging economic situation, the CFS-ICD business continues to perform strongly.
The reported net income of Gati express logistics business in the quarter was Rs 3.427 crore, he said, implemented in different regions Was closed, but he added that now business is returning to normal. The revenue of the express delivery business unit increased from 1.64 billion rupees in the first quarter of the previous fiscal year to 3.01 billion rupees in the first quarter of fiscal year 22. The company stated that its earnings for the quarter showed significant growth. ACCI’s revenue in the reporting quarter increased by 156%, and EBITDA increased by 72%, reaching Rs 31.45 crore, compared to Rs 1823 crore in the June quarter. The 21st year of the fiscal year. The company manages nearly 5 million square feet of storage space under its operations, according to the statement.