Allcargo Logistics gains after LCL volumes rises 5% in Oct

Allcargo Logistics rose 1.44% to Rs 52.90 after its LCL volume for the month of October 2024 stood at 7.46 lakh cubic meters (cbm), registering the growth of 5% as compared with 7.13 lakh cbm in the month of October 2023.

The volumes have seen marginal growth as compared to last month. LCL volume witnessed marginal growth month on month in Latin America, Europe and Asia Pacific and was lower across other regions for the month.

Container utilization had a marginal impact as compared to last month, which is in line with the volumes. However, it remained 3% higher over 12 months ago.

The 40 feet container usage had a marginal impact as compared to last month, which is in line with the volumes. However, it remained 8% higher over 12 months ago.

FCL volume for October 2024 stood at 57,000 TEUs, which is the highest ever. This represents a growth of 14% as compared to the last year and 7% as compared to previous month. FCL volume witnessed growth across all major regions.

Air volume stood at 24.74 lakh kilos, down 22% as compared to the last year and 7% as compared to previous month. Air volume witnessed a decline in all major regions except Europe and Asia Pacific.

Allcargo Logistics is an integrated logistics service provider and operates in multiple business segments ? multimodal transport operation (MTO), container freight station (CFS) / inland container depot (ICD), projects and engineering (P&E), contract logistics, and logistics parks (LPs) in which it has forayed recently.

The company?s consolidated net profit jumped 51.6% to Rs 33.11 crore on 30.1% increase in revenue from operations to Rs 4,301.09 crore in Q2 FY25 over Q2 FY24.

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