Express distribution and supply chain management company Allcargo Gati has reported a sharp decline in net loss for the quarter ended March 31 at Rs 6.17 crore from Rs 20.45 crore in the corresponding period last fiscal.
The company’s revenues for the January-March period stood at Rs 405.8 crore as compared to Rs 415.67 crore, registering a decline of 2.37 per cent.
However, for the entire fiscal, the company reported a profit of Rs 6.12 crore as against a loss of 10.91 crore of FY2023. Its revenues for the fiscal declined to Rs 1697.99 crore from Rs 1723.17 crore a year-ago.
“Q4FY24 has recorded the highest volume for the year on the back of enhanced service. For the full year we have reported a volume growth of 10% as compared to the last year. The volume growth is a testament of our efforts towards improving quality and customer experience,” Pirojshaw (Phil) Sarkari, Managing Director and Chief Executive Officer of GESCPL said.
He further said that the quarter-on-quarter growth has come on the back of the company’s efforts on direct cost rationalisation and yield improvement. “We shall continue to focus on cost reduction to enhance profitability for our stakeholders,” Sarkari added.
