Arshiya Int'l Q1FY09 net profit rises 183% YoY

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Arshiya International Ltd. (Arshiya) (BSE: 506074), an India headquartered global Logistics and Supply Chain Services Company, announced its results for the quarter ended June 30, 2008 (Q1FY09).

 

On a consolidated basis, Total Income grew by 83.24% to Rs.144.52 crore in Q1FY09 from Rs.78.87 crore for the quarter ended June 30, 2007 (Q1FY08). The company's Earnings before Interest, Depreciation, Tax & Amortization (EBITDA) grew 196.26% to Rs.24.53 crore while net profit jumped to Rs.19.51 crore compared to Rs.6.88 crore in Q1FY08.

 

Specifically for the quarter (Q1FY09), total income increased 90.29% to Rs.76 crore from Rs.39.94 crore for the quarter ended June 30, 2008 (Q1FY08). The company's EBITDA grew 287.40% to Rs.9.53 crore in Q1FY09 while net profit zoomed by 344.7% to Rs. 6.27 crore compared to Rs1.41 crore in Q1FY08.

 

The company additionally announced its intentions to invest Rs.1,600 crores into its pan-India Rail business - Arshiya Rail Infrastructure. This CAPEX will be deployed towards acquiring 3,375 wagons (75 Rakes plus Break Vans) and the building of rail sidings & other necessary infrastructure across the country. The 75 rakes will be delivered over 18 months - making Arshiya Rail Infrastructure the largest private rail operator in the country by the end of 2009. The 1^st rake is expected to be deployed on November 15^th, 2008.

 

Commenting on the performance and investment plans of the company, Mr. Ajay S Mittal, Chairman and Managing Director, Arshiya International said, "We have shown good growth this quarter across all our core entities by giving integrated and value added services to our customers. Going forward, we expect to keep up the increase in momentum through our FTWZ Infrastructure & Rail Infrastructure projects. Personally, I am very excited about the fact that Arshiya would be able to bring down logistics costs leveraging our Rail network by 15% - 20% depending upon the length traveled and product mix of our customers across all segments - mainly impacting the core sector." 

 

Sourced From: Adfactors Public Relations Pvt Ltd