Page 3 - Logistics

Allcargo Logistics Q3 results: PAT down 88% at Rs 17 cr, revenue falls 22%

Allcargo Logistics Ltd on Tuesday reported an 88 per cent decline in consolidated Profit After Tax (PAT) to Rs 17 crore in the December quarter. The company had posted a consolidated PAT of Rs 146 crore in the year-ago period, Allcargo Logistics said. Revenue from operations in the third quarter of the ongoing fiscal fell 22 per cent to Rs 3,212 crore from Rs 4,127 crore a year ago, the company said. The company's Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) stood at Rs 111 crore during the quarter under review as against Rs 253 crore, registering a 56 per cent decline, it said. The company said it expects the global trade to revive in the second half of 2024. In the near term, Red Sea crisis has taken out some capacity from the market, leading to a balance against subdued demand, which should have marginal positive impact in the June quarter, Allcargo said. It also said the company has undertaken major cost reduction initiatives that will help signific

Logistics' cost structure biggest challenge for e-commerce: Flipkart CEO

E-commerce in India is at a nascent stage and cost structure of logistics is the biggest challenge for the segment, a top official of Flipkart said on Tuesday. Speaking at Walmart Growth Summit, Flipkart CEO Kalyan Krishnamurthy said the government has simplified taxation and adopted ease of doing business as a strategy, which is one of the factors driving growth of the e-commerce segment. "One of the biggest challenges for e-commerce alone to solve is the cost structure of logistics. India, in general is a low ticket price market. Whenever we are able to get to further (lower logistics) cost structure, is when we will be able to further increase the penetration in commerce," Krishnamurthy said. The e-commerce company has plans to transition its delivery fleet to electric vehicles by 2030. Krishnamurthy said the e-commerce penetration in India is around 7-8 per cent compared to retail but in some product categories like electronics, it is high. "Tax simplification used to be one o

Logistics firm V-Trans India Ltd targets Rs 3,000 cr turnover by 2026

Logistics firm V-Trans (India) on Thursday said it is targeting a turnover of Rs 3,000 crore by 2026. The company also said it had outlined a comprehensive strategy focusing on surface transport and leveraging technology for sustainable profitability. As part of the growth plan, the company said it will prioritize growth in its core competence area, surface transport, while also expanding its multimodal logistics operations, including air and road combinations. In the full truckload (FTL) segment V-Trans aims to capitalise on the USD 120 billion market and look to capture a more significant share by enhancing its presence in this lucrative segment, it said. Also, with 30 per cent of overall revenue coming from northern India, V-Trans will make substantial investments in expanding branches, warehouses, and infrastructure in this region, the company said, adding that it plans further expansions by opening new branches in tier 3 and 4 tier cities of eastern and western UP, Uttarakhand

Skye Air enters into partnership with SMILe to deliver shipments via drones

Logistics solution provider Skye Air on Wednesday said it has entered into a partnership with e-commerce enablement platform SMILe (Shree Maruti Integrated Logistics) for delivery of shipments via drones. The partnership is enable faster order fulfilment in urban areas with the help of Skye Air's autonomous logistics solutions, the company said in a statement. The introduction of drone delivery services will provide Shree Maruti sellers with the ability to offer same-day and next-day deliveries. Moreover, it will also revolutionise the entire delivery process, making it more efficient, eco-friendly, and customer-centric. "Skye Air is dedicated to revolutionising drone delivery and making it a mainstream logistics solution in India, and our collaboration with Shree Maruti is a significant step in that direction," Skye Air Co-Founder & CEO Ankit Kumar said. "With this partnership, we are redefining the future of e-commerce and providing our sellers with a competitive edge in the ...

Meesho reduces logistics cost by 5% through software infra platform Valmo

E-commerce firm Meesho on Wednesday said it has reduced its logistics cost by 5 per cent by using its software logistics infrastructure platform Valmo. Valmo currently handles 20-22 per cent of orders of Meesho, which it plans to double in the next 12-18 months. The homegrown company announced that it has created a technology-enabled SaaS (Software as a service) platform Valmo to get micro-entrepreneurs in the logistics segment onboard to create a larger ecosystem and supply chain. The platform will incorporate local logistics suppliers to provide shipment services to the company, making the logistics seamless, and helping sellers on Meesho to save on operating costs. "Valmo aims to create a national logistics solution by eliminating entry barriers for local players and helping them grow their businesses," Meesho said in a statement. Meesho CXO, Fulfilment & Experience, Sourabh Pandey said the company has been able to reduce overhead costs by 5 per cent by incorporating Valmo for

Delhivery Q3 results: Logistics major turns profitable with Rs 11.7 cr PAT

Delhivery's revenue from operations stood at Rs 2,194 crore in Q3 FY24, up 20 per cent year-on-year (Y-o-Y) from Rs 1,822 crore in Q3 FY23

Blue Dart Express Q3 profit rises to Rs 888.9 mn on festive demand

Logistic companies have been grappling with increased competition, slow demand and volatile air turbine fuel (ATF) rates, which form a major part of their expenses

REC, Bank of Baroda join hands to finance power, infra, logistics projects

State-owned REC Ltd has inked an initial pact with Bank of Baroda to jointly offer loans for power, infrastructure and logistics projects in India over the next three years. By pooling resources and expertise, both entities endeavour to champion initiatives that will invigorate economic development and enhance accessibility to essential services nationwide, a power ministry statement said. According to the statement, REC has signed a Memorandum of Understanding (MoU) with Bank of Baroda to facilitate joint sanctions of loans to fund power, infrastructure and logistics projects in the country over the next three years. The MoU was signed on Wednesday in the presence of Vivek Kumar Dewangan, Chairperson and Managing Director of REC, and Debadatta Chand, Managing Director & CEO of Bank of Baroda, along with Lalit Tyagi, Executive Director at Bank of Baroda. "By harnessing synergies between REC's expertise in the power sector and Bank of Baroda's financial prowess, we aim to catalyse .

South Western Railway, JSW enter into agreement for iron ore transportation

South Western Railway (SWR) and JSW Minerals Rail Logistics Private Limited entered into an agreement on Friday for operation of five special type of wagons with 'side discharge' arrangement for unloading, officials said. It will be put to use for transportation of iron ore from the mines at Mineral Enterprises Ltd Siding, Sasalu and Swamihalli to the steel plant of JSW at Tornagallu. This is in addition to seven rakes for which agreement was signed on October 17, they said. In a statement, SWR officials said, "Total 12 BOBSNS (Bogie open hopper wagons with bottom discharge arrangement to carry ballast ores) rakes shall be procured by JSW Minerals Rail Logistics Private Limited. The rake is manufactured by Titagarh Rail System Limited, Kolkata and the first rake is expected to operate from April, 2024." JSW Minerals Rail Logistics Private Limited is investing Rs. 29.57 crore per rake. A rebate of 10 per cent is granted to the customer on base freight for every booking, it ...

Tamil Nadu retains 'achiever' status in logistics infra rankings of states

State credits 'progressive approach towards logistics improvement' for top ranking in central government report

PM Modi to inaugurate 402 km section of Eastern Dedicated Freight Corridor

The Eastern Dedicated Freight Corridor is a testament to the government's commitment to modernising infrastructure and fostering economic growth across the country

13 states, UTs among 'achievers' in logistics performance index: DPIIT

Andhra Pradesh, Karnataka, Tamil Nadu, Chandigarh, and Gujarat are among the 13 states and Union Territories that have again been categorised as "achievers" in the logistics index chart 2023, according to a report released by the Commerce and Industry Ministry on Saturday. The index is an indicator of the efficiency of logistical services necessary for promoting exports and economic growth. As against 15 states and UTs, this year the number has reduced to 13 as Himachal Pradesh and Uttarakhand have slipped into "aspirers" and "fast movers" categories, respectively, this year. Steps taken by Sikkim and Tripura have helped them move up the ladder to the "achievers" category from "fast movers" in 2022. The other states and UTs in the "achievers" category are Delhi, Assam, Haryana, Punjab, Telangana, and Uttar Pradesh. Kerala, Maharashtra, Madhya Pradesh, Rajasthan, Uttarakhand, Arunachal Pradesh, Nagaland, Andaman and Nicobar, Lakshadweep, and Puducherry have been categorised as "fas

Centre cuts logistics costs to below 9% of GDP with higher state spending

According to the World Bank's Logistics Performance Index, India ranked 38th out of 139 countries in 2023, helped by improving road and port networks and digitisation of the supply chains

Plan shared by departments to improve logistics efficiency, global ranking

The commerce and industry ministry on Thursday said a targeted action plan has been shared with various departments and big data is being generated to improve the logistics efficiency of the country. These efforts will improve India's ranking in the World Bank's LPI (logistics performance index), the department for promotion of industry and internal trade (DPIIT) said in a statement. A meeting to showcase ongoing and upcoming initiatives and reforms to improve India's logistics efficiency to the World Bank team was held under the chairpersonship of the Special Secretary (Logistics), DPIIT, Sumita Dawra here on Wednesday. Nodal officers of the LPI-dedicated team, including those from Land Ports Authority of India (LPAI), Civil Aviation, Railways, Ports, Shipping and Waterways, Central Board of Indirect Taxes and Customs (CBIC) and National Industrial Corridor Development Corporation Limited (NICDC) and members from World Bank participated in the meeting. "The targeted action plan ha

Blue Dart Express launches 40 new franchisees, company-owned retail outlets

Logistics firm Blue Dart Express Ltd on Monday announced its plans for nationwide expansion with the inauguration of 40 new franchisees and company-owned retail outlets. With this expansion, the company increased its footprint with over 100 plus new stores this year, enabling customers to ship to more than 56,000 locations across India. Strategically positioned in cities like Kolkata, Delhi and Mumbai, this expansion indicates a significant step towards strengthening Blue Dart's connectivity across the nation, the company said in a statement. Blue Dart Managing Director Balfour Manuel said that the company is strategically expanding its footprint by adding new stores. "This move aims not only to enhance customer convenience but also to fortify last-mile logistics in remote corners of the country," Manuel explained. Blue Dart Express offers delivery of consignments of over 56,000 plus locations in the country.

Delhivery Q2 result: Net loss at Rs 103 cr, revenue up 8% to Rs 1,942 cr

The logistics firm also made a few leadership appointments aimed at creating experienced long-term leaders for key functions and business roles

Amid India vs Bharat row, Blue Dart rebrands premium service as Bharat Plus

"Bharat Dart is poised to refine express logistics services in Bharat, offering unmatched speed, coverage, and business of all sizes, " the logistics firm said

Govt asks states to formulate logistics policy to promote ease of doing biz

The Centre has asked states to formulate logistics policy as it would help promote ease of doing business, the commerce and industry ministry said on Saturday. It was also suggested to the states for integrating quality data on the portal for the state master plan for wider adoption of PM GatiShakti initiative. The initiative helps in proper planning and implementation of infrastructure projects. These issues were discussed in a meeting called by the Department for Promotion of Industry and Internal Trade (DPIIT) on August 31 to promote wider adoption of PM GatiShakti National Master Plan (NMP). It was chaired by Special Secretary in the DPIIT Sumita Dawra. "The states/UTs are being encouraged to formulate State Logistics Policy (SLPs) aligned with National logistics Policy (NLP) to bring holistic focus on logistics in public policy at state level," the ministry said. So far, 22 states have notified their logistics policies. It said that the states/Union Territories were sensiti

Railway's freight business up as it faces rising costs and competition

The transport network needs reforms and upgrades to compete in logistics

Mahindra Logistics to provide Flipkart with heavy commercial vehicles

Companies announce collaboration to improve e-commerce firm's line haul transportation