Tiger Logistics Announced Robust Q1 Results; Check Financials Here

Tiger Logistics India has reported impressive Q1 results for the fiscal year 2024, showcasing significant growth across key financial metrics. The company's net sales reached Rs 101.16 crore in June 2024, marking a remarkable 140.75% increase from Rs 42.02 crore in June 2023. Net profit surged by 119.85% to Rs 4.63 crore from Rs 2.10 crore in the same period the previous year. Earnings before interest, taxes, depreciation, and amortization (EBITDA) saw a substantial rise of 127.95%, amounting to Rs 6.77 crore in June 2024 compared to Rs 2.97 crore in June 2023. The earnings per share (EPS) increased to Rs 4.61 from Rs 2.09 over the same timeframe.

On Wednesday, the shares of Tiger Logistics opened on the BSE at a 5% upper circuit limit at Rs 39.98 apiece level.

The company also reported strong quarterly and annual results in May. In Q4FY24, net profit rose 82.35% to Rs 4.03 crore, up from Rs 2.21 crore in Q4FY23. Sales for the quarter increased by 51.88%, reaching Rs 92.71 crore compared to Rs 61.04 crore in the corresponding quarter of the previous year. However, for the full fiscal year 2024, net profit declined by 44.16% to Rs 12.96 crore, down from Rs 23.21 crore in FY23. Similarly, annual sales fell by 44.56%, totaling Rs 240.26 crore in FY24 compared to Rs 433.35 crore in FY23.

As part of its strategic initiatives, Tiger Logistics announced the launch of FreightJar 2.0 in conjunction with its Q4 results. This upgraded version of the company's proprietary freight booking and management platform aims to streamline the handling of import shipments, including Full Container Load (FCL), Less than Container Load (LCL), and Air Freight. FreightJar, which debuted in April last year, has already onboarded over 500 exporters from various sectors such as automotive, textiles, PTAs, consumer durables, and food products. The new version, FreightJar 2.0, is fully integrated with core technology and is available for immediate use by exporters and importers in India. Additionally, it is accessible to over 5,000 forwarders and agents worldwide, particularly in the US, Asia-Pacific, Europe, Latin America, and Middle East markets.

In January, Tiger Logistics announced a stock split in a 10:1 ratio. The company set March 4 as the record date for this corporate action, which aims to increase the stock's liquidity. A stock split expands the number of shares outstanding without changing the total market capitalization, thereby maintaining the overall value of the company.

Tiger Logistics (India) is renowned for its expertise in international logistics, particularly in handling the import and export of cargo and projects. The company operates on an asset-light model and offers a comprehensive one-stop solution for international trade, supported by a robust network of approximately 50 agents and partners globally.