Allcargo Logistics, India’s leading international freight forwarder and port-based logistics provider, said its consolidated net profit in fiscal year 2012-13 was Rs. 169.7 crore (approximately $30 million), slipping 40 percent from $50.3 million in the previous fiscal year.
Total revenue in 2012-13, which ended March 31, 2013, fell 8 percent year-over-year to $706.6 million.
The Mumbai-based company’s multimodal transport operations segment handled 284,726 20-foot-equivalent units, up about 3 percent from 275,205 TEUs in 2011-12. “The business has achieved volume growth, despite slowdown in global trade, re-enforcing the focus on LCL (less-than-containerload) consolidation as a primary business offering built in with global scale of operations that has helped to develop resilience towards trade volatility,” it said.
Throughput in the container freight stations and inland container operations division was 221,909 TEUs, decreasing 9 percent from 245,175 TEUs a year earlier. “This decline was mainly on account of a drop in laden import volume at Indian ports,” Allcargo said.
Consolidated net income in the last quarter was $3 million, plunging 73 percent from $11 million in the year-ago period. Quarterly revenue rose 10 percent year-over-year to $172.7 million.
The company recently opened a new freight station at the Port of Jawaharlal Nehru (Nhava Sheva) with a designed capacity of 144,000 TEUs in the initial phase, bringing its overall CFS capacity to 485,000 TEUs a year.