Allcargo Logistics announced Q1FY24 results: Combined EBITDA for Q1FY24 stood at Rs 161 crore which represents the sum of three business segments namely International Supply Chain, Express, and Contract logistics. Consolidated revenue for Q1FY24 stood at Rs 3,271 crore as compared to Rs 5,474 crore for Q1FY23. Reported PAT for Q1FY24 was Rs 119 crore. Weak macroeconomic outlook reflected in subdued global trade activity for the industry. China’s overall exports for July declined 14.5% YoY while the imports are down 12.4% YoY. Similarly, India’s total merchandise trade is down 14% YoY in Q1FY24. Our strategy is to focus on market share and volume growth amidst higher competitive intensity. International Supply Chain (ISC) business EBITDA margin of 4% in Q1FY24 compares with 6.5% in FY23 and 4.7% in FY19, reflecting normalization of trade. Balance sheet remains healthy with current net debt of Rs 12 crore after accounting for Rs 406 crore paid towards the acquisition of a 30% stake in GESCPL (earlier Gati KWE). The express business is now at par with the best the in industry on key service parameters. Result PDF