Allcargo Logistics’ reports highest ever monthly in July, Shares jump 9%

Allcargo Logistics said on Monday that its LCL volume for July 2024 stood at 818,000 cubic metres, similar to its highest-ever monthly volume, which was recorded in August 2022. Following the announcement, the firm's shares soared over 9% on Tuesday.

The company said the LCL volume represents an increase of 6% compared to the previous month and 5% compared to July 2023. “Volumes have steadily increased on the back of improved global trade and the company’s growth initiatives. We expect the momentum to remain through the year. On the back of volumes, freight rates are also anticipated to stay high until the end of peak season,” the company said in a release.

The firm also witnessed an increase in volume in all major regions, such as the USA, Latin America, Europe, Asia Pacific, and the Middle East. The firm also stated that the improvement in 40-foot container usage is due to increased volume and focus on this type of container.

Meanwhile, the firm’s FCL volume for the month of July 2024 was similar to May and represented a growth of 7% over July 2023. FCL volumes were overall flat, with marginal declines in China, Vietnam, and Mexico while witnessing an increase in India, Turkey, and the UAE.

During the first quarter of fiscal year 2025, revenue from operations rose 17% year-over-year (YoY) to ₹3,813 crore. Earnings before interest, tax, depreciation, and amortisation (EBITDA) declined 5% to ₹133 crore, while the EBITDA margin fell to 3.5% from 4.2% in the same quarter a year ago. Net profit fell 96% YoY to ₹4.3 crore during the quarter.

The firm’s contract logistics business reported revenue growth of 22% year over year, driven by increased wallet share from existing clients.

The firm's shares have lost over 18% since the beginning of the year, but the stock has stayed flat in the last year.