Coastal Roadways Reports 17-Fold Surge in Q1 Net Profit
Coastal Roadways has reported a significant improvement in its Q1 financial performance. Net profit increased to Rs 86.00 lakhs from Rs 5.00 lakhs year-over-year, a 17-fold increase. Revenue from operations grew by 6.15% to Rs 1,035.00 lakhs. EPS improved to Rs 0.07 from Rs 0.01. The Supply Chain Solutions Division was profitable with Rs 85.00 lakhs, while the Freight Division reported a small loss of Rs 2.00 lakhs. Total expenses were Rs 998.00 lakhs, with cost of operations being the largest component at Rs 842.00 lakhs. The company's management expressed optimism about maintaining growth and focusing on operational efficiencies.
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Coastal Roadways has reported a significant improvement in its financial performance for the first quarter. The company's unaudited financial results show a remarkable increase in profitability and steady growth in revenue.
Financial Highlights
- Net Profit: Rs 86.00 lakhs, up from Rs 5.00 lakhs in the same quarter last year (17-fold increase)
- Revenue from Operations: Rs 1,035.00 lakhs, compared to Rs 975.00 lakhs in the corresponding quarter (6.15% growth)
- Earnings per Share (EPS): Rs 0.07, improved from Rs 0.01 in the same period last year
Segment-wise Performance
Coastal Roadways operates through two primary business segments:
- Freight Division
- Supply Chain Solutions Division
The company's segment-wise results are as follows:
| Segment | Revenue (Rs in Lakhs) | Profit/(Loss) before Tax and Interest (Rs in Lakhs) |
|---|---|---|
| Freight Division | 745.00 | (2.00) |
| Supply Chain Solutions Division | 294.00 | 85.00 |
| Total | 1,039.00 | 83.00 |
Operational Performance
- Total Expenses: Rs 998.00 lakhs
- Cost of Operations: Rs 842.00 lakhs (largest expense component)
- Staff Cost: Rs 53.00 lakhs
- Finance Costs: Rs 2.00 lakhs
- Depreciation and Amortisation: Rs 34.00 lakhs
Management Commentary
Kanhaiya Kumar Todi, Chairman, MD & CEO of Coastal Roadways, stated, "We are pleased with the strong start to the fiscal year. The significant improvement in our net profit demonstrates the effectiveness of our operational strategies and cost management initiatives. While our Freight Division faced some challenges, the robust performance of our Supply Chain Solutions Division has been a key driver of our overall growth."
Balance Sheet Highlights
As of the end of the quarter:
- Total Segment Assets: Rs 2,647.00 lakhs
- Total Segment Liabilities: Rs 299.00 lakhs
Outlook
The company's management remains optimistic about maintaining this growth trajectory, focusing on enhancing operational efficiencies and expanding its service offerings in the logistics and supply chain solutions sector.
Additional Information
The company held its 57th Annual General Meeting on August 8, through video conferencing, where shareholders discussed and approved the financial statements for the previous financial year, among other agenda items.
Coastal Roadways continues to adapt to the evolving market conditions and remains committed to delivering value to its stakeholders through its integrated logistics and supply chain solutions.
Note: The financial results are subject to limited review by the company's statutory auditors.
Historical Stock Returns for Coastal Roadways
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -100.00% | -100.00% | -100.00% | -100.00% | -100.00% | -100.00% |
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