Allcargo Terminals reports a robust 6 percent YoY revenue growth in Q3FY24, reaching Rs.185 Crs. Despite this positive trend, EBITDA experiences an 18 percent decline at Rs.29 Crs.
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Allcargo Terminals disclosed its financial results for Q3FY24, showcasing a commendable 6 percent YoY revenue rise, reaching Rs.185 Crs. However, the EBITDA registers a notable downturn, plummeting 18 percent to Rs.29 Crs. The Profit After Tax (PAT) reveals an 11 percent growth, standing at Rs.15 Crs.
The cumulative performance for 9MFY24 demonstrates a parallel 6 percent revenue boost but a stark 23 percent decline in both EBITDA and PAT.
Suresh Kumar R, Managing Director, highlights the company’s dedication to operational excellence and digital initiatives. The Q3FY24 witnessed a 9 percent surge in volumes, complemented by the MyCFS portal’s upgraded capabilities, now handling over two-thirds of the import-export cycle. This strategic move aims to enhance customer satisfaction and retention, marking a positive trajectory for Allcargo Terminals despite certain financial challenges.