Patel Integrated Logistics Q4FY24 income from ops jumps 33% to ₹101 cr
Profit after tax (PAT) increased by 22 percent YoY to ₹1.67 crore from ₹1.37 crore and by 11 percent QoQ to ₹1.67 crore from ₹1.50 crore.
Patel Integrated Logistics announced its audited financial results for the quarter and year ended 31st March 2024 with gross income from operations in Q4FY24 grew by 33 percent YoY to ₹101 crore as compared to ₹76 crore in Q4 FY23 and 11 percent QoQ to ₹101 crore as compared to ₹91 crore in Q3 FY24.
Profit after tax (PAT) increased by 22 percent YoY to ₹1.67 crore from ₹1.37 crore and by 11 percent QoQ to ₹1.67 crore from ₹1.50 crore.
Increase in sales volume YoY 21 percent to 15,276 tonnes from 12,590 tonnes and QoQ 1 percent to 15,276 tonnes from 15,115 tonnes.
Mahesh Fogla, executive director, Patel Integrated Logistics said, “Despite challenges like the Red Sea crisis and geopolitical tensions, the global economy has shown remarkable resilience. India's economy, in particular, has thrived amidst these pressures. With the Government's focus on expanding airports to 240 by 2030 this move will drive significant growth in the logistics sector. This proactive approach, combined with our efforts, has led to year-on-year turnover growth. Our FY24 EBITA margins improved over FY23, and our PAT saw substantial growth.”
“Furthermore, the Airports Authority of India's planned capital expenditure of Rs 30,000 crore over five years and the government's target of operationalizing 1,000 UDAN routes will further boost the expansion of logistics into new territories. The Indian aviation sector's rapid growth, highlighted starting of the commercial operation by new Airlines - FLY91. and Indian Airlines' fleet expansion, will be a key driver of logistics sector growth in FY25, expected to witness double-digit expansion.”
