Allcargo Global Logistics Ltd – the leading logistics service provider, has posted a magnificent 66.60 per cent rise in net profit at Rs. 341.45 mn in the quarter ended 30th June 2008 as compared to Rs. 204.96 mn in the corresponding period a year ago according to the consolidated financial results.

The company’s board during its meeting held today took on record the un-audited standalone financial results.

The company has reported a growth of 35.27 per cent in income from operations at 5443.16 mn for the period ended June 30, 2008 as against Rs 4023.75 mn in same period during the last financial year.

“We operate in a niche sector and cater to different segments of logistics sector. By employing a unique business model we have showcased that it can be successful as well as financially rewarding. The financial results for the quarter has reinforced our belief in the model and we will continue to chart out higher growth trajectory in the coming quarters as well“, said Mr. Sashi Kiran Shetty, Managing Director, Allcargo Global Logistics Ltd

As per the standalone results Allcargo has posted an impressive 63.75 per cent rise in net profit at Rs 215.06 mn for the first quarter ended on June 30, 2008 as compared to Rs. 131.33 mn in the corresponding period a year ago

Similarly the income from operations grew by 56.50% to 1266.19 mn during the quarter ended 30 June 2008 (Standalone) as compared to Rs.809.08 mn in the same period last year.

Multimodal Transport Operation (MTO)

MTO segment revenue has registered significant growth of 48.5% to Rs851.29 mn mainly due to significant performance of Project division which has contributed Rs231.50 mn. MTO volume has increased by 5.9% to 7990 TEUs.

Container Freight Station (CFS)& Inland Container Depots (ICD)

CFS Revenue has increased by 50.77% to Rs355.68 mn in Q2 CY08 as compared to Rs235.9 mn in Q2CY07.

The three CFS operating at Nhava Sheva, Mundra and Chennai showed an aggregate rise of 44.58 % in volume at 47919 TEUs as compared to 33142 TEUs in Q2CY07.

JNPT Container Freight Station has handled 34272 TEUs in Q2 ‘08 as compared to 31933 TEUs in Q2 ‘07 showing a growth of 7.32 %.

Chennai Container Freight Station has handled 10631 TEUs in Q2 ‘08 as compared to 886 TEUs in Q2 ‘07 showing a growth of 1100%

Mundra Container Freight Station has handled 3016 TEUs in Q2 ‘08 as compared to 323 TEUs in Q2 ‘07 showing a growth of 833 %.

The Company’s ICD at Pithampur near Indore is slated for commissioning in August’08.

New Cranes & Equipments

This quarter includes the revenue from Project and equipment division of Transindia Freight Services Pvt Ltd which has got merged with Company. The division has registered the revenue of Rs96 mn and EBIT of Rs 39.89 mn

The company’s basic earnings per share rose to Rs 9.62 for the quarter ended on June 30, 2008 as compared to Rs 8.45 in the corresponding period last fiscal. The diluted earning per share was Rs 9.32 in the quarter ending June 30, 2008 as against Rs 8.43 in the corresponding period previous year.

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About Allcargo:

The company is one of India’s logistics company. It is listed on the BSE as well as the NSE. The company currently operates out of 100+ own offices in more than 50 countries across the world.

The company is now expanding its operations and diversifying into new businesses. The company has acquired cranes of various sizes to cater the demands in various sectors.

The company owns 3 CFS (Container freight station) in Mumbai, Chennai & Mundra(Gujarat).