look news india
Corporate Results: Patel Integrated Logistics Limited, one of India's leading logistics and supply chain service providers, has announced its unaudited financial results for the quarter ended June 30, 2024.
Total income from operations grew 34.78 percent year-on-year to Rs. 96.89 crores in the first quarter of FY 2023-24 from Rs. 71.89 crores. This increase was mainly due to increase in revenue and volume. Net profit (PAT) grew 47.71 percent year-on-year to Rs. 1.53 crores from Rs. 1.03 crores.
Total sales grew 12.11 per cent year-on-year to 14,535 tonnes. Commenting on the Q1 FY 2024-25 performance, Mahesh Fogla, Executive Director, Patel Integrated Logistics Ltd, said, “Despite the recent global geopolitical situation, we expect double-digit growth at the end of the current financial year.
Our PAT (net profit) has grown year-on-year, reflecting our strong performance and strategic flexibility. We are also exploring opportunities to monetize our secondary real estate to further benefit our stakeholders. Also, recently the Central Government has announced initiatives to develop airports in various cities with cargo-focused airlines, which will provide significant benefits. Hopefully this strategic environment will lead us to sustained growth and profitability.
