The consolidated revenue from operations in the recently concluded quarter stood at Rs 1,101.66 crore, marking a 1.52 per cent year-on-year (YoY) decline as compared to Rs 1,118.61 crore in Q1FY24
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The latest quarterly results of Q4 FY2024 show a remarkable surge in net profit, reaching Rs 119 crore, a sixfold rise from Rs 17 crore in Q4 FY2023
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The company's consolidated revenue from operations witnessed a significant increase of 65.43 per cent, reaching Rs 264.97 crore in FY24, up from Rs 160.17 crore in FY23
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Total revenue reached Rs. 70.11 crores in Q4 FY24, up from Rs. 47.39 crores in Q4 FY23 and Rs. 60.25 crores in Q3 FY24
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Consolidated Profit after tax increased by 22 per cent YoY to Rs 4,468 crore as against Rs 3,670 crores last year.
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Key financial highlights for FY24 include revenues of Rs. 1,754.1 crores in Q4 FY24, up 15.7 per cent from Rs. 1,516.5 crores in Q4 FY23 and a 7.4 per cent increase from Rs. 1,633.5 crores in Q3 FY24, culminating in a total revenue of Rs. 6,594.6 crores for FY24, a 17.8 per cent rise from Rs. 5,599.2 crores in FY23
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Allcargo Logistics reports a net loss of Rs 5.65 crore for the fourth quarter FY 2023-24, compared to a net profit of Rs 61.56 crore for the same quarter of last fiscal year
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Individual new business premiums grew 39 per cent to close the year at Rs 938 crore from Rs 675 crore in FY23.
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In Q4FY24, Allcargo Terminals reported revenue of Rs 182 crores, slightly down by 1 per cent compared to Rs 184 crores in Q4FY23 and a 2 per cent decrease from Rs 185 crores in Q3FY24.
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Alongside this financial update, the company announced the resignation of Sandeep Barasia, its Executive Director and Chief Business Officer, who plans to explore opportunities outside the organisation. Barasia will continue in his role until 30 June 2024
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