Patel Integrated Logistics Limited, one of the leading logistics service providers in India, announced its audited financial results for the year ended 31st March 2024.
Key financial highlights for Q4 FY24:
– Gross Income from Operations grew by 33% YoY to Rs 101 Cr as compared to Rs 76 Cr in Q4 FY24 and 11% QoQ to Rs 101 Cr as compared to Rs 91 Cr in Q4 FY24 primarily driven by continuous focus on turnover and economic buoyancy
– Profit after tax (PAT) increased by 22% YoY to Rs 1.67 Cr from Rs 1.37 Cr and in by 11% QoQ to Rs 1.67 Cr from Rs 1.50 Cr.
Key operational highlights for Q4FY24:
Increase in sales volume YoY 21% to 15,276 tons from 12,590 tons and QoQ 1% to 15,276 tons from 15,115 tons
Commenting on the Q4 FY24 performance, Mr. Mahesh Fogla, Executive Director, Patel Integrated Logistics Ltd. 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.”
