Allcargo Logistics reports Q3FY24 figures with ₹3,212 Cr in revenue and ₹111 Cr in EBITDA.
Allcargo Logistics has divulged its financial standing for Q3FY24, disclosing a consolidated revenue of ₹3,212 Cr and an EBITDA of ₹111 Cr. The company projects a potential global trade resurgence in H2 2024, addressing the immediate impact of the Red Sea crisis on market capacity and subdued demand.
Initiating robust cost-cutting measures to counterbalance new investments and inflationary pressures, the company aims to enhance profitability. Q3FY24 reflects a flat QoQ performance in the International Supply Chain business, coupled with a downturn in the domestic express sector, resulting in a marginally lower EBITDA. Despite a 1 percent YoY decline, Allcargo Logistics is optimistic about improved performance in CY24, particularly in previously struggling markets in the US and Germany.
The balance sheet remains robust, boasting a net debt of ₹214 Cr as of December 2023. Emphasising a digitalization drive and centralized processes, the company aims for enhanced efficiency and data security.
