The Board of Directors of Premier Roadlines Limited, a leading logistics service company in the Indian subcontinent has announced its consolidated audited financial results for the second half of the financial year ending June 30, 2024, and the year ended on that date.
Revenue Growth
Revenue surged by 29.33% to ₹132.39 crore compared to ₹ 98.38 crore from the previous year has increased in the case of the half-year ended September 30, 2023, from Rs 20 crore in the half-year ended September 30, 2022. Revenue improved by 17.36% year-on-year, reaching ₹228.57 crore from ₹192.05 crore in FY23.
Improvement in Net Profit
Net profit improved dramatically by 55.78% to ₹8.07 crore, which has risen from ₹4.55 crore in the previous half-year and Rs 55 crore in the current half-year. Earnings Per Share (EPS) increased by a whopping 56% to ₹4.80 from ₹2.70 in the same period. Net profit, on the other hand, has risen by a staggering 54.75% to ₹12.62 crores, as against ₹7.19 crore in FY23. EPS rose by 54.67% to ₹7.50 from ₹4.28 of them in the last fiscal year.
Premier Roadlines’ Journey
Premier Roadlines has been in the transportation and logistics business for over 40 years catering to over 900 customers all over India. The company has more than 28 branches and covers over 3000 pin codes to offer safe and optimum logistic solutions.
Later, on May 17, 2024, Premier Roadlines floated it on the stock exchange at a premium of 30 % over the issue price of ₹ 67. The company managed to raise a total of ₹40.36 crores during its IPO (Initial Public Offer).
Premier Roadlines Director Samin Gupta spoke with confidence about the company’s expansion strategy and its determination to deliver unique services to its clients. Having started operations as a public company, Premier Roadlines focuses on diversifying services and attracting the best clients in the market.
Conclusion
The financial result of FY24 shows that the company has maintained a high growth rate and satisfied clients in Premier Roadlines. Currently, it has posted a good first IPO showing and good profit margins hence signaling good prospects in the logistics business. As a publicly listed company, investors and stakeholders can expect further progress from Premier Roadlines Limited.
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