Tiger Logistics receives reaffirmation in credit ratings with stable outlook

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.