Shreeji Translogistics Q2 Results: Logistic Stock Posts 67% PAT Growth On Healthy Sales

Shreeji Translogistics Ltd. (STL) has reported its financial earnings for the quarter ended 30th September 2023. The company reported revenue from operations of Rs 65.44 Cr in Q2FY24 up by 32.99% YoY from Rs 49.21 Cr in Q2FY23.

Its EBITDA reached Rs 8.21 Cr in the quarter under review up by 43.06% YoY from Rs 5.74 Cr in the same quarter of FY23 whereas the EBITDA margin stood at 12.55% compared to 11.67% in the year-ago quarter.

The company said its net profit reached Rs 4.84 Cr in Q2FY24 up by 67.03% YoY from Rs 2.90 Cr in Q2FY23.
Commenting on the performance of H1 FY24, the management team of STL said, "We are happy to share with you our remarkable growth and financial performance for Q2 & H1FY24.

Our revenue from operations increased by 32.99% from Rs 492.12 MN in Q2 FY23 to Rs 654.48MN in Q2 FY24. The Profit margins increased significantly by 150 bps and stood at 7.41% in Q2 FY24 compared to 5.9% in Q2 FY23. Furthermore, our revenue from operations increased by 33.67% from Rs 944.56 MN in H1 FY23 to Rs 1262.61 MN in H1 FY24. Furthermore, Profit also grew from Rs 55.09 MN in H1 FY23 to Rs 89.41 MN in H1 FY24."

"This commitment is exemplified by the successful on boarding of new clients, the establishment of new branches, and our ongoing endeavours to enhance the safety and quality of our fleets. Further, we have diversified our portfolio by entering in the field of Railway Rake handling & transportation service which will facilitate high volume business opportunities in India.

This will be accomplished on the back of private & public capex, and substantial government investment in infrastructure. Our focus would be on providing project logistics and higher value added services to contribute meaningfully to government initiatives like Make in India and PM Gati Shakti and MMLP (Multi-Modal Logistics Park)," the management added.

"We are optimistic about the growth momentum in the logistics sector, primarily driven by the growing need for efficient logistics in nation-building. We are continuously looking to explore new opportunities for revenue generation and long-term growth.

This strategic expansion will enhance our ability to serve clients more efficiently and establish a sturdy groundwork for future growth paving the way for sustained growth. Lastly, we would like to take this opportunity on behalf of the Board of Directors to thank each and every one of you for your unwavering support in this forward-thinking journey," the management of the company stated.