Allcargo Q1 PAT rises over two-fold to Rs 2.8 billion

Allcargo Logistics has reported over two-fold growth in its consolidated profit after tax (PAT) to Rs 280 crore for the June quarter. The company had posted a PAT of Rs 106 crore in the first quarter of the previous fiscal. Its consolidated revenue during the first quarter of FY23 rose 65% to Rs 5,675 crore from Rs 3,449 crore in Q1 FY22. The firm’s EBITDA (Earnings before interest, taxes, depreciation and amortisation) doubled to Rs 434 crore from Rs 217 crore in the year-ago period. There has been a sustained increase in revenues coming through the digital platform ECU360, which now accounts for over 60 per cent of export bookings across all key markets, it added. The international supply chain business (MTO segment) operating under ECU Worldwide saw robust growth. The ocean freight rates have seen a declining trend over the last three to four month. The company, however, has managed to grow revenues on the back of strong volumes. The profits remain steady with a focus on digitisation and yield management. Also read: Allcargo Logistics to foray into container terminal operation businessLogistics firm Gati plans to be a Rs 3,000 cr company in 3 years