Aegis Logistics posts Rs 636 crore revenue & Rs 29 crore profit for Q1 FY21

August 3, 2020: The oil, gas and chemical logistics company Aegis Logistics posted consolidated revenue of Rs 636.40 crore and net profit of Rs 29.83 crore for the first quarter of fiscal 2020-21, 67.45 & 47.65 percent down from the same period last year.

The EBITDA decreased 33.19 percent to Rs 72.31 crore for the quarter from Rs. 108.23 crore in 2019.

The Covid-19 pandemic and the subsequent lockdown has severely affected the operations of the logistics company and resulted in a severe drop in revenue and profit. Despite this, the financial services firm Motilal Oswal today gave a buy rating for Aegis Logistics with target price Rs 250 upon the expectation that the company will witness a jump in gas throughput by one million metric tonnes per annum over the next two years.