Allcargo Global Logistics Limited PAT up by 151% at Rs. 47.4 crore

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Allcargo Global Logistics Limited, one of the leading logistics service providers in India, today reported net sales of Rs. 631.5 crore for the quarter ended September 30, 2008 compared to Rs. 403.9 crore in corresponding period of last fiscal year, registered an increase of 56.3 %.

Net Profit for the third quarter stood at Rs. 47.4 crore, registered a growth of 151 % as compared to Rs. 18.9 crore posted in the same period of last fiscal year. Diluted Earnings per share (EPS) increased by 107% to Rs. 17.6 as compared to Rs. 8.5 in corresponding period of last fiscal year. The operating margin for Q3 CY08 was at 11.3% as against 7.0% in Q3 CY 07 registering an increase of 430 bps.

Net sales for the nine months ended September 30, 2008 grew by 36.3 % to Rs. 1,610.6 crore compared to Rs. 1,181.3 crore in the corresponding period of last fiscal year, while net profit for the nine months ended September 30, 2008 rose by 77.1 % to Rs. 109.9 crore, as against Rs. 62.0 crore posted in the same period of last fiscal year.

Diluted Earnings per Share (EPS) for 9MCY08 worked out to Rs. 40.2 as compared to Rs. 29.2 for the same period of last fiscal year registering an increase of 37.6 %.

Commenting on the results, Mr. Shashi Kiran Shetty, Chairman & Managing Director, All Cargo Limited said, “Combined growth in MTO business, CFS and merged entity has resulted substantial growth in both revenue and profitability. We have witnessed growth in margins of ECU Line, which has resulted in good overall performance at consolidated level. We will continue to grow across all segments of the company”.

Multimodal Transport Operation (MTO)
MTO segment revenue has registered significant growth of 60.4% to Rs 91.2 crore in Q3 CY08, as compared to Rs. 56.8 crore in Q3 CY07.

Container Freight Station (CFS) & Inland Container Depots (ICD)
CFS Revenue has increased by 90.2% to Rs 41.1crore in Q3 CY08 as compared to Rs 21.6 crore in Q3CY07.

JNPT Container Freight Station has handled 34,009 TEUs in Q3 CY ‘08 as compared to 25,630 TEUs in Q3 CY ’07, registered a growth of 32.6 %.

Chennai Container Freight Station has handled 10,307 TEUs in Q3 CY‘08 as compared to 2,453 TEUs in Q3 CY ‘07 registered a growth of 320.2%

Mundra Container Freight Station has handled 2,540 TEUs in Q3 CY ‘08 as compared to 1,590 TEUs in C3 CY ‘07, registered a growth of 59.7 %.

New Cranes & Equipments
Equipment Hiring Division segment revenue stood at Rs.10.31 crore and Profit before tax and interest is at Rs. 1.9 crore.

The Board of Directors has deferred the decision on division of face value of equity shares.

About Allcargo Global Logistics Ltd.:
(BSE Code: 532749) (NSE Code: ALLCARGO) (Reuters Code: ALGL.BO) (Bloomberg Code: AGLL@IN)
Established in 1983, Allcargo emerged as a leading Logistics service provider. One of the largest companies in the consolidation of less than container load (LCL) players and handles large volumes of full container load (FCL) operating in seven key areas - MTOs, CFSs, Project Cargo, Airfreight, Transport Logistics, Equipment Hiring and Oil Rig & Supply Vessels Management. The company owns 3 CFSs (Container freight station) in Mumbai, Chennai & Mundra (Gujarat).

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Parikshit Joshi (9820137030)