Allcargo Logistics Reports a Net Loss of ₹7.52 Crore for Q1 FY25

Allcargo Logistics has reported a consolidated net loss of ₹7.52 crore for the quarter ending June 30, 2024, in stark contrast to a profit of ₹109.95 crore during the same period last fiscal year. Despite the loss, the company's revenue for the April-June quarter rose to ₹3,812.81 crore, reflecting a growth of 16.56% from ₹3,271.06 crore in Q1 FY2024.
In a statement, Allcargo attributed the revenue growth to global events and high demand across trade lanes in the second quarter of 2024. The company anticipates this demand to persist through the peak season until the end of the year.

For the June quarter, the company's less than container load (LCL) volume was recorded at 2.25 million cubic meters (CBM), consistent with the previous year and showing a sequential growth of 6%. Meanwhile, the full container load (FCL) volume reached 1,56,000 twenty-foot equivalent units (TEUs), on par with the last quarter and marking a 9% increase year-on-year.

Allcargo's Contract Logistics business saw a revenue growth of 13% quarter-on-quarter and 22% year-on-year, driven by an increased wallet share from existing clients. The company’s Express business also optimized its operating costs, contributing to an 11% rise in EBITDA for Q1 FY25, which stood at ₹20 crore, a 33% increase from the last quarter.

During this quarter, ECU Worldwide, a subsidiary of Allcargo, appointed a new leadership team in Argentina, Uruguay, and Paraguay, signaling the company's growth initiatives in Latin America.