Q1 Results: Tiger Logistics net profit rises 120%

Homegrown Tiger Logistics (India) has reported quarterly results for the first quarter of the financial year 2024-25. The company, in an exchange filing, said that its standalone net profit was at Rs 4.63 crore in June 2024. This was up 119.85% from Rs 2.10 crore in the same quarter a year ago.

Also, its sales rose 140.74 per cent to Rs 101.16 crore in the quarter ended June 2024. It was Rs 42.02 crore during the previous quarter ended June 2023. 

EBITDA stands at Rs. 6.77 crore in June 2024 up 127.95 per cent from Rs. 2.97 crore in June 2023.

Earlier, the company signed an agreement with Bagladesh-based Sikder Group to establish a Joint Venture (JV) for global trade.

Sikder Group handles the development and operations of the Mongla Economic Zone at Mongla Port, which is the second-largest seaport in Bangladesh, Tiger Logistics (India) said in an exchange filing.

Bangladesh is India’s biggest trading partner in the subcontinent, and India is the second-biggest export partner, accounting for 12 per cent of the total exports to Bangladesh. The total trade turnover in FY23 touched $ 14.22 billion.