Patel Integrated Logistics Limited, one of the leading logistics service providers in India, announced its unaudited financial results for the quarter and half-year ended 30th September 2023.
Key Financial Highlights:
- Q2FY24 Income from Operations witnessed a 9.9 % QoQ (Q1FY24) growth to Rs. 78.90 Cr
- Q2FY24 Net Profit stood at Rs. 1.34 Cr as compared to Rs. 1.03 Cr in Q1FY24, a rise of 30% QoQ
Key Operational Highlights:
- Total Volume increased by 7.01% QoQ to 13874 tones
- Launch of FreightPILL Mobile App- an Enterprise Information System Software that enables users to capture operational information in various practical circumstances
Commenting on the Q2FY24 performance, Mr. Mahesh Fogla, Executive Director, Patel Integrated Logistics Ltd. said, “We hope to maintain a robust growth trajectory quarter after quarter. Our strategic focus on digital transformation has opened new dimensions in efficiency and service excellency. Monetizing non-core assets serves as our strategic beacon, converting resources into growth capital that propels our company’s upward trajectory. The acquisition of funds through sale of idle land in Chennai will fortify our growth plans, solidifying our path toward sustained success in the dynamic landscape of air freight logistics.
Given the delayed Diwali this year, we anticipate a surge in growth in the quarters ahead. Propelled by favourable market conditions and a positive macro environment for the logistics sector, we are optimistic about the sustained momentum; and our endeavour will be to consistently deliver value to our stakeholders.”
