Ritco Logistics Limited , an integrated logistics and multimodal transport player, has announced a series of significant developments, including new contracts, fleet expansion, and enhancements to its tech platform TrucksUp.

Major Contract Wins

Ritco Logistics has secured multiple high-value transportation and supply chain contracts totaling ₹130 crore. Here's a breakdown of the major contracts:

These contracts span various sectors including petrochemicals, FMCG, energy, steel, and cement, showcasing Ritco's versatility in handling diverse logistics needs.

Fleet Expansion

Ritco Logistics is set to enhance its fleet with 50 custom-built vehicles specifically designed for infrastructure-based clients. These new vehicles feature:

• Enhanced driver comfort
• Improved utilization
• Latest technology for reduced transit and idle times
• Robust journey risk management protocols

The company aims to significantly reduce the risk of accidents while cutting costs for its customers.

TrucksUp Platform Developments

Ritco's tech platform, TrucksUp, has made several advancements:

Key Appointments

• Abhijay Ratan joined as Chief Marketing Officer (CMO)
• Md. Khalid appointed as Tech Head
• Sandeep Pahuja hired as Head of Human Resources

New Features

• Launched 'URGENT LOAD' for business partners
• Introduced 'My Truck is Here' (MTH) for truck owners

Partnerships and Milestones

• Collaborated with leading Oil Marketing Companies (OMCs)
• FASTag transactions surpassed the multimillion mark

Security Enhancements

TrucksUp has implemented several security measures:

• Tamper-proof audit trails for all transactions and system changes
• Continuous validation of active user sessions
• Code obfuscation to protect assets and users

These developments demonstrate Ritco Logistics' commitment to growth, technological advancement, and operational excellence in the logistics sector.

Ritco Logistics , a prominent player in the logistics sector, has announced its financial results for the second quarter and half year ended September 30, showcasing robust growth and strategic capital raising.

Strong Revenue Growth

The company reported a significant increase in its revenue from operations for Q2. The quarterly revenue stood at ₹279.09 crore, marking a substantial 19.5% rise from ₹234.64 crore recorded in the corresponding quarter of the previous year.

Impressive Profit Surge

Ritco Logistics demonstrated a remarkable improvement in profitability. The net profit for the quarter reached ₹114.54 crore, compared to ₹85.35 crore in the same period last year, indicating a strong bottom-line performance.

Half-Year Performance

For the first half, Ritco Logistics continued its growth trajectory. The company's revenue for the six-month period climbed to ₹531.32 crore, up from ₹442.50 crore in the prior year, reflecting consistent growth across a broader timeframe.

Capital Raising Through Preferential Allotment

In a strategic move to strengthen its financial position, Ritco Logistics successfully raised ₹99.99 crore through a preferential allotment. The company issued 38,46,139 shares at a price of ₹260 per share, comprising a face value of ₹10 and a premium of ₹250.

Improved Earnings Per Share

The company's growth is further reflected in its earnings per share (EPS) figures. The basic EPS for the quarter stood at ₹4.42, showing an increase from ₹3.49 in the corresponding quarter of the previous year.

Financial Results Integrity

It's worth noting that the statutory auditors have issued an unmodified opinion on the financial results, providing assurance on the integrity and accuracy of the reported figures.

Tabular Summary of Key Financials

Ritco Logistics' strong financial performance in Q2, coupled with its successful capital raising initiative, positions the company well for continued growth in the logistics sector. The significant improvements in revenue and profitability underscore the company's operational efficiency and market strength.