Allcargo Q2 gross profit dips by 2percent to Rs.452 crore

Allcargo Logistics Ltd has announced its unaudited financial results for the quarter ended September 30, 2016.
Total revenue from operations was Rs.1,410 crore for the quarter ended September 30, 2016, as compared to Rs.1,456 crore for the corresponding previous period, a decrease of 3 per cent. Gross profit for the quarter ended September 30, 2016 was Rs.452 crore, as against Rs. 459 crore for the corresponding previous period, a year-on-year decrease of 2 per cent, due to lower freight rates. Gross profit margin for the quarter improved by 50 bps to 32 per cent, mainly due to higher operating efficiencies. Allcargo is a leading player in the global LCL consolidation market with a strong network across 164 countries and 300 plus offices.
The business clocked total volumes of 1,27,463 TEUs for the quarter ended September 30, 2016 as against 1,17,574 TEUs for the corresponding previous period.