AVG’s H1 FY24 PAT Growth Skyrockets By An Incredible 326% Optimistic About Growth And Strategic Expansion

Business News City/ state

Mumbai (Maharashtra) [India], November 17: AVG Logistics Limited(BSE – 543910), is one of the market leaders in delivering integrated logistics solutions for road and rail cargo, has announced its Unaudited Financial Results for the H1 & Q2 FY24.

Consolidated Key Financials at a Glance:

H1 FY24:

• Total Revenue ₹218.73 Crore vs ₹208.15 Crore in H1 FY23, YoY Growth of 5.09%

• EBITDA ₹40.37 Crore vs ₹32.87 Crore in H1 FY23, YoY Growth of 22.83%

• EBITDA Margin 18.46% vs 15.79% in H1 FY23, YoY Growth of 267 Bps

• PAT ₹4.25 Crore vs ₹1.00 Crore in H1 FY23, YoY Growth of 326.07%

• PAT Margin 1.94% vs 0.48% in H1 FY23, YoY Growth of 146 Bps

• EPS ₹3.61 vs ₹0.85 in H1 FY23, YoY Growth of 324.71%

Q2 FY24:

• Total Revenue ₹117.97 Crore vs ₹111.04 Crore in Q2 FY23, YoY Growth of 6.25%

• EBITDA ₹21.38 Crore vs ₹16.71 Crore in Q2 FY23, YoY Growth of 28.01%

• EBITDA Margin 18.13% vs 15.04% in Q2 FY23, YoY Growth of 309 Bps

• PAT ₹1.72 Crore vs ₹0.90 Crore in Q2 FY23, YoY Growth of 90.72%

• PAT Margin 1.46% vs 0.81% in Q2 FY23, YoY Growth of 246 Bps

• EPS ₹1.46 vs ₹0.77 in Q2 FY23, YoY Growth of 89.61%

Commenting on the performance, Mr. Sanjay Gupta, Managing Director and CEO, mentioned, “Our performance in Q2 FY24 is a commendable achievement resonates with the success of our strategic initiatives and heightened operational efficiency. The promising financial figures stand as a testament to the robustness of our existing customer relationships, serving as a foundation for our continued success.

In tandem with our ongoing commitment to excellence, we are actively engaged in discussions with potential new clients, seeking to expand our footprint and diversify our portfolio. The upward trajectory observed in the logistics industry in India injects a profound sense of optimism into our endeavours. As we navigate these discussions and forge new partnerships, we anticipate playing a pivotal role in shaping the growth and success of the industry.

Our dedication to staying ahead of the curve is reflected in our eagerness to capitalize on the expanding customer base within this thriving sector. With an eye on the future, we are poised to be at the forefront of the logistics industry’s growth, leveraging our strengths and expertise to contribute significantly to its ongoing success.”

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