Patel Integrated Logistics today reported a 135 per cent rise in net profit in the June quarter at Rs 2.5 crore as a fall in revenue was offset by healthy margins.
The leading logistics player said its revenue dipped 10 per cent to Rs 133.7 crore in the April-June period due to inclement business conditions, while lower oil prices and cost control measures boosted EBITA (earnings before interest, taxes, depreciation and amortisation) 36.65 per cent.
Commenting on the numbers, Vice-Chairman Areef Patel said, "The major spike in net profit reflects our strategy of being a strong bottom line-focused operator. Our focus on high margin business, coming in from the new-age businesses like e-commerce, coupled with cost cutting measures, has helped us improve our margins considerably during the June quarter."
Patel said during the quarter under review, the company focused on efforts to strengthen its relationships with high margin customers.
"Our focus has been on value-based customers like those in the e-commerce space," he said, adding the company exited some low margin customers.
"Going forward, I hope Parliament will clear the GST Bill at the earliest and the Government will meet its commitment to roll out this new taxation regime from next April, which will give a big boost to logistics players," Patel said.
