Shreeji Translogistics Reports 56.6% Surge in Q1 Profit, Boosted by Land Sale
Shreeji Translogistics Limited posted robust Q1 FY24 results. Consolidated revenue grew 8.8% YoY to ₹5,705.64 lakh. Profit after tax surged 56.6% YoY to ₹437.29 lakh. EBITDA margins improved to 13.9% from 11.0% last year. The transport services segment generated ₹5,634.67 lakh in revenue. A one-time gain of ₹450 lakh from land sale in Chennai contributed significantly to profits. The company's board approved these results on August 11.
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Shreeji Translogistics Limited , a leading player in the logistics sector, has reported a strong financial performance for the first quarter ended June 30. The company's consolidated results show significant growth in profitability, driven by robust operational performance and a one-time gain from a land sale.
Financial Highlights
Revenue Growth: Consolidated revenue from operations reached ₹5,705.64 lakh, marking an 8.8% year-over-year increase. However, this represents a slight 2.2% decline compared to the previous quarter.
Profit Surge: The company's profit after tax (PAT) saw a remarkable 56.6% year-over-year jump, reaching ₹437.29 lakh.
Improved Margins: EBITDA margins expanded to 13.9%, up from 11.0% in the same quarter of the previous year, indicating enhanced operational efficiency.
Earnings Per Share: Basic and diluted earnings per share stood at ₹4.19, reflecting the company's strong bottom-line performance.
Segment Performance
The transport services segment, which is Shreeji Translogistics' primary revenue driver, generated ₹5,634.67 lakh in revenue with a segment result of ₹654.00 lakh. This underscores the company's strong position in its core business area.
Notable One-Time Gain
A significant contributor to the quarter's exceptional performance was a one-time gain of ₹450 lakh from the sale of land in Chennai. This non-operational income boosted the company's other income, contributing to the overall profit growth.
Management Commentary
The company's board of directors approved these unaudited financial results in a meeting held on August 11. The meeting, which commenced at 4:00 p.m. and concluded at 4:55 p.m., also saw the review and approval of both standalone and consolidated financial results for the quarter.
Looking Ahead
Despite the slight quarter-on-quarter revenue dip, the substantial year-over-year growth and improved profitability suggest that Shreeji Translogistics is well-positioned in the logistics market. The company's ability to enhance its EBITDA margins indicates effective cost management and operational improvements.
Note: All financial figures are in Indian Rupees (₹) and are reported on a consolidated basis unless otherwise specified.
Historical Stock Returns for Shreeji Translogistics
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.72% | -0.16% | +3.92% | +24.25% | -46.70% | +155.12% |
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