Allcargo Terminals reports an 8 percent year-on-year growth in CFS volumes, despite global trade disruptions.
Allcargo Terminals has announced its financial results for the quarter ending March 31, 2024. The company achieved an 8 percent year-on-year increase in Container Freight Station (CFS) volumes, surpassing industry growth rates despite challenges in global container trade.
For Q4FY24, Allcargo’s revenue stood at ₹182 crore, slightly down from ₹184 crore in Q4FY23, reflecting a 1 percent decline year-on-year and a 2 percent decrease from ₹185 crore in Q3FY24. EBITDA showed a 1 percent year-on-year increase, reaching ₹27 crore from ₹26 crore, though it dropped 9 percent from ₹29 crore in Q3FY24. The Profit After Tax (PAT) was significantly affected, falling 27 percent year-on-year to ₹9 crore from ₹13 crore, and down 37 percent quarter-on-quarter from ₹15 crore. Adjusting for one-off items, the PAT would align with the previous year’s figures for the same quarter.
Suresh Kumar R, Managing Director of Allcargo Terminals, acknowledged the impact of geopolitical events on global trade but noted the company’s growth. He highlighted their focus on enhancing service levels through digital advancements like the myCFS portal, mobile app, and a new CRM platform.
