Tiger Logistics receives reaffirmation in credit ratings with stable outlook
Earlier, the company 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.
Multinational logistics company Tiger Logistics (India) has said that credit rating agency Infomerics Valuation and Rating Private Limited (IVR) has reviewed and reaffirmed its ratings.
"The improved outlook to “Stable” from “Negative” highlights Tiger Logistics’ substantial progress in financial performance during Q1 FY25, driven by a notable year-over-year increase in the volume of containers handled, which has contributed to higher overall revenue and profitability," the company said in an exchange filing.
“We are delighted to share that the company has achieved a significant milestone with the reaffirmation of our credit ratings, along with an improved Stable outlook. This underscores the financial resilience, robust operational capabilities and ability to meet future challenges with confidence," Harpreet Singh Malhotra, CMD, said.
Earlier, the company 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.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Top 7 Mutual Funds With Highest SIP Returns in 1 Year: No.1 fund has converted Rs 21,000 monthly SIP into Rs 3,42,126
SBI 5-year FD vs Physical Gold: Which investment has given higher return on Rs 5 lakh investment in 5 years; see calculations
Top 7 SBI Mutual Funds With Best SIP Returns in 1 Year: Rs 25,000 monthly SIP in NO. 1 fund has grown to Rs 3.80 lakh; know how others have performed
Navratna PSU stock remains analysts' long-term favourite; brokerage's Rs 303 target implies 17% upside
EPF Interest Calculation: What will be retirement corpus on Rs 3,000, Rs 6,000, or Rs 9,000 monthly contribution for 25-year-old
15x15x15 Formula: In how many years Rs 15,000 monthly SIP can grow to over Rs 1 crore; see calculations
Latest SBI Senior Citizen FD Rates: What are expected returns on investments of Rs 6 lakh, Rs 11 lakh, Rs 16 lakh, or Rs 21 lakh in 1, 3 or 5-year fixed deposit schemes
09:51 AM IST