[vc_row][vc_column][vc_column_text]
- Revenue Attained 122.22 Crore for Q1.
- PBT 13.25% to 2.82 Crore; Net Profit 16.17% to 2.37 Crore
The Board of Directors of Patel Integrated Logistics Ltd, at its meeting held on Tuesday, approved the unaudited financial results for the ending June 30, 2016.
Key Q1 Highlights (Consolidated)
Profit before tax increases 13.25 % to Rs. 2.82crs from Rs 2.49 crs
Net profit after tax & interest grows 16.17 % to Rs.2.37 crs from Rs. 2.04crs
Earnings per share for the quarter stood at 1.49
(Rs. Crore)
| Q-o-Q | Consolidated
Results |
Y-o-Y | ||||
| 2016-17
(Quarter 1) |
2015-16
(Quarter 4) |
% Increase/Decrease | 2016-17
(Quarter 1) |
2015-16
(Quarter 1) |
% Increase/Decrease | |
| 122.22 | 121.90 | by 0.26 % | Revenue | 122.22 | 133.71 | by 8.59 % |
| 5.98 | 6.01 | by 0.50 % | EBITDA | 5.98 | 5.99 | by 0.16 % |
| 2.82 | 2.77 | by 1.80 % | PBT | 2.82 | 2.49 | by 13.25 % |
| 2.37 | 2.26 | by 4.86 % | Net Profit | 2.37 | 2.04 | by 16.17 % |
For the June quarter 2016-17, Net Profit Patel Integrated Logistics Ltd (PILL) grew by 16.17% which is due to effective control on operation and other overheads cost.
Commenting on the financial performance, Mr. Areef Patel, Vice Chairman, Patel Integrated Logistics, said:
“We have performed well in line with the expectations by posting healthy numbers for the April-June quarter. We continue to maintain a positive long-term business outlook on the back of strong business fundamentals and increased focus on ​new age opportunities like e-commerce delivery. Going ahead, the roll-out of GST will change the dynamics of the logistics sector with supply chain efficiency​ driving the demand paradigms in the e-commerce space. A better-than-average monsoon reviving rural demand and the coming festival season are expected to steer higher the profit trajectories in the logistic sector.”
Outcome of the Board Meeting
Authorized the further issuance of equity shares of the Company, with or without detachable warrants on rights basis, to the shareholders of the Company on such ratio and at such price and premium as may be decided in consultation with the Lead Managers to the proposed rights issue. Further, the ratio of rights share entitlements, the Issue price and the record date for fixing the entitlement of shareholders to such rights issue shall be informed in due course when decided subject to approval of Statutory authorities and Shareholders of the Company. Further the committee comprised of board members and senior management is formed for the aforesaid purpose.
The Company (PILL) has signed Letter oflntent (LOI) with Fetchr, based in Dubai for its foray into e-commerce related services in B2B & B2C deliveries. Fetchr provides cutting edge technology for e-commerce and related services and currently is a leading operator in Middle East countries. As per LOI exchanged PILL and Fetchr will establish joint venture where Fetchr will bring technology and also participate in the equity of Joint Venture
Business Update
- Patel Integrated Logistics Ltd (PILL) has entered into a JV with Nationwide Group promoted Pivot Logistics in Saudi Arabia. The JV will enter into other GCC countries by 2017.
- For Media Contact: Bosky Christopher 9820038229/ Sreelal Nair – 981547317
[/vc_column_text][/vc_column][/vc_row]
