Allcargo Logistics drops as Q3 PAT slides 62% YoY

Allcargo Logistics tumbled 17.14% to Rs 335.20 after the company's consolidated net profit (from continuing operations) slumped 61.59% to Rs 124.43 crore in Q3 FY23 as against Rs 323.95 crore posted in Q3 FY22.

Revenue from operations dropped 26.8% year on year to Rs 4,099.02 crore in the quarter ended 31 December 2022.

Profit before exceptional items dropped 65.13% to Rs 255.19 crore in Q3 FY23 from Rs 398.16 crore reported in the same period last year. The company recorded an exceptional loss of Rs 0.79 crore in Q3 FY23.

Total expenses decreased by 24.47% YoY to Rs 3,961.67 crore in Q3 FY23. Operating expenses was at Rs 3,176.10 crore (down 30.49% YoY) while employee expenses stood at Rs 505.68 crore (up 16.07% YoY) and finance costs came at Rs 22.29 crore (up 10.62%).

The company's revenue from International Supply Chain was at Rs 3,671.43 crore (down 29.42% YoY) whereas the revenue from Express Distribution stood at Rs 435.55 crore (up 5.27% YoY) during the period under review.

Allcargo Logistics is an integrated logistics service provider and operates in multiple business segments - multimodal transport operation (MTO), container freight station (CFS) / inland container depot (ICD), projects and engineering (P&E), contract logistics, and logistics parks (LPs) in which it has forayed recently.

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