Published on 16/09/2020 11:52:39 AM | Source: Dion Global Solutions Ltd

Allcargo Logistics Q1 net profit zooms 202.20% at Rs 94.65 cr

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The company reported standalone net profit of Rs 94.65 crore for the quarter ended June 30, 2020 as compared to Rs 31.32 crore in the same period last year, registering a year-on-year growth of 202.20 per cent. Net revenue of the company declined moderately by 11.54 per cent at Rs 374.95 crore in April-June quarter of this fiscal as against Rs 423.84 crore in the corresponding period last year.

During April-June quarter, operating expenses dropped by 12.51 per cent to Rs 310.67 crore from Rs 355.08 crore in year ago period. Other Income grew by 855.08 per cent at Rs 79.94 crore versus (Jun'19 Rs 8.37 crore).

Operating Profit slipped by 6.52 per cent to Rs 64.28 crore as against Rs 68.76 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 5.67 per cent in June quarter. Interest grew by 78.06 per cent y-o-y to Rs 22.72 crore, while Taxation decreased by 158.29 per cent at Rs -3.62 crore (Jun'19 Rs 6.21 crore).