Aegis Logistics spurts on good Q3 performance

Aegis Logistics surged 7.50% to Rs 385.70 after the company's consolidated net profit rose 23.2% to Rs 125.34 crore on 71.9% jump in revenue from operations to Rs 2,086.74 crore in Q3 FY23 over Q3 FY22.

Profit before tax increased 31.6% YoY to Rs 173.78 crore in the quarter ended 31 December 2022.

Normalized EBITDA grew 50% to Rs 239 crore in Q3 FY23 as compared with Rs 159 crore in Q3 FY22.

During the quarter, total expenses spiked 77.25% YoY to Rs 1,932.17 crore. Purchases of stock-in-trade stood at Rs 1,722.38 crore (up 70.19% YoY) and employee benefits expenses was Rs 22.63 crore (up 48.39% YoY) while finance costs was at 27.16 crore (up 520% YoY).

On segmental front, revenue from gas terminal division soared 72.08% YoY to Rs 1,972.71 crore while revenue from liquid terminal division jumped 68.41% YoY to Rs 114.03 crore during the period under review.

The company's board approved the re-appointment of Raj K. Chandaria, chairman, as a managing director of the company for a term of five years effective from 1 April 2023 upto 31 March 2028, subject to the approval of the shareholders and Central Government, if necessary.

Aegis Logistics is an Indian oil, gas and chemical logistics company. The company has five distinct but related business segments, and operates a network of bulk liquid terminals, liquefied petroleum gas (LPG) terminals, filling plants, pipelines, and gas stations to deliver products and services.

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