Allcargo Sees 7% Rise in FCL Volume, 14% Growth in Air Volume

Allcargo Logistics Limited has announced its financial results for the quarter ended September 30th 2024.

Key highlights:

•  LCL volume for the quarter ended September 2024 stood at 2.37 million CBM, depicting a growth of 4% over the quarter ended September 2023 and 5% over quarter ended June 2024. FCL volume for the quarter stood at 164K TEUs, up 7% over the same period last year and 5% over the quarter ended June 2024.
• Air volume for the quarter ended September 2024 stood at 2.65 million kilos. This represents a growth of 14% compared to last year and a decline of 4% as compared to the last quarter.
• Volume growth was witnessed during the quarter on the back of improved global trade and company’s growth initiatives. As highlighted, seasonal decline was experienced across all regions towards the end of the quarter.
• Contract Logistics business has reported a revenue growth of 46% on a YoY basis and 22% on a QoQ basis on the back of new client additions and increased wallet share from existing clients.
• Express Business: EBITDA continues to show improvement on the back of cost initiatives, for Q2FY25 EBITDA was up 26% as compared to same period last year. October 2024 was a landmark month for express business; it registered highest ever monthly volume, with a total of 118kt.