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Source: JOC JOC

Profit Dips at India's Allcargo Logistics

Published: 27 Aug 2013 19:22:40 PST

Allcargo Logistics Ltd., India’s leading international freight forwarder and port-based logistics provider, reported its consolidated net income in the first fiscal quarter, which ended June 30, was Rs. 38.66 crore (about $6.3 million), slipping 32 percent year-over-year.

Quarterly revenue totaled $161 million, rising slightly from $160 million in the same period in 2012.

Operating income from the multimodal transport division increased 5 percent year-over-year to $133 million. Income from the container freight station business fell 20 percent, however, to $11.6 million.

The Mumbai-based company posted a group net profit of $30 million in fiscal year 2012-13, which ended March 31, 2013, down 40 percent from 2011-12.

Allcargo operates container freight stations at the ports of Jawaharlal Nehru (Nhava Sheva), Chennai and Mundra. In addition, the company has inland container depots at Indore, Kheda and Pithampur in Madhya Pradesh, as well as at Dadri, near Delhi.

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