VRL Logistics, a prominent player in the logistics sector, reported its standalone quarterly numbers, revealing a challenging performance for the quarter ending September 2023.
The company faced a 2.93% decline in net sales, recording Rs. 709.33 crore compared to Rs. 730.75 crore in the same period last year. Additionally, the quarterly net profit took a significant hit, plummeting by 37.33% to Rs. 19.71 crore from Rs. 31.46 crore in September 2022.
The company’s EBITDA also experienced a downturn, dropping by 3.53% to Rs. 97.84 crore in September 2023. Consequently, VRL Logistics’ earnings per share (EPS) decreased to Rs. 2.27 in the current quarter, down from Rs. 3.56 in the corresponding period of the previous year.
Despite these challenges, VRL Logistics managed to sustain its market presence, with shares closing at 676.35 on November 3, 2023. Over the last six months, the stock showed a modest 6.79% return, and over the last 12 months, it yielded a 14.19% return. However, at the time of reporting, the shares were trading 0.67% lower at ₹679.65, reflecting the immediate market response to the company’s Q2FY23 performance.
