Tiger Logistics Reaffirms Credit Ratings with Stable Outlook

Tiger Logistics (India) has announced that credit rating agency Infomerics Valuation and Rating Private Limited (IVR) has reaffirmed its credit ratings, upgrading the outlook from "Negative" to "Stable." This positive change reflects the company's significant improvements in financial performance during the first quarter of FY25, driven by a notable increase in container volumes handled, which has led to enhanced revenue and profitability.

Harpreet Singh Malhotra, Chairman and Managing Director, expressed enthusiasm about this milestone, stating, "The reaffirmation of our credit ratings, along with the improved Stable outlook, underscores our financial resilience, robust operational capabilities, and readiness to tackle future challenges."

In its latest report, Tiger Logistics reported a standalone net profit of ₹4.63 crore for June 2024, marking a remarkable increase of 119.85% compared to ₹2.10 crore in the same quarter last year. Additionally, the company's sales surged by 140.74%, reaching ₹101.16 crore, up from ₹42.02 crore during the same period in 2023. The EBITDA for June 2024 stood at ₹6.77 crore, reflecting a 127.95% increase from ₹2.97 crore in June 2023.