Allcargo Logistics sees 99 Cr EBITDA in Q4FY24 on 6 percent revenue growth.
Allcargo Logistics has released its financial results for the quarter ending March 31, 2024, showcasing notable performance metrics.
Allcargo Logistics reported an EBITDA of ₹99 crore for Q4FY24, supported by a 6 percent quarter-on-quarter revenue increase, bringing the total to ₹3,398 crore. The International Supply Chain segment is showing early signs of recovery, with freight rates rising despite an additional 1 million TEUs in container shipping capacity for 2024.
ECU Worldwide experienced a stable quarter, with LCL volumes slightly decreasing from 2.16 million CBM to 2.12 million CBM, while FCL volumes rose marginally from 152K to 156K TEUs. Improvements are anticipated from April, expected to drive growth in the latter half of the year.
Cost reduction efforts were partially offset by severance costs, which are expected to be concluded by August. These savings are projected to help manage annual increments and control SG&A expenses, positively impacting the bottom line.
The Contract Logistics division remained stable, with ASCPL reporting an EBITDA of ₹32 crore for Q4FY24. The Express business showed significant improvement due to cost reduction initiatives, with Gati’s consolidated EBITDA increasing by 21 percent from ₹11 crore in Q3 to ₹14 crore in Q4FY24.
The company continues to emphasise technological advancements, with GEMS 2.0 progressing on schedule at Gati, and new financial ERP systems being rolled out at ECU Worldwide.
