Premier Roadlines FY24 Results: PAT Up By 54.75%; Revenue Rose 29.33% To Rs 132.39 Cr

Audited financial results for H2 & FY24 were released by Premier Roadlines Limited, a logistics service provider with prestigious clients in a range of sectors in the Indian subcontinent. Premier Roadlines' revenue jumped by 29.33% to Rs 132.39 crore in the half-year that ended in March 2024 from Rs 98.38 crore in the preceding half-year that ended in September 2023. In the half year that ended in March 2024, net profit climbed by 55.78% to Rs 8.07 crore, compared to Rs 4.55 crore in the preceding half that ended in September 2023. Earnings Per Share (EPS) shot up by 56% to Rs 4.80 crore in the March 2024 half-year compared to Rs 2.70 crore in the September 2023 half-year.

Revenue improved 17.36% year on year to Rs 228.57 crore in the fiscal year that ended in March 2024 from Rs 192.05 crore in the fiscal year that ended in March 2023. In the year that ended in March 2024, net profit went up by 54.75% to Rs 12.62 crore, compared to Rs 7.19 crore in the year that ended in March 2023. In the year that ended in March 2024, earnings per share (EPS) went up by 54.67% to Rs 7.50 from Rs 4.28 crore in the year prior to that ended in March 2023.

Samin Gupta, Director, Premier Roadlines, said, "Our significant FY 2023-24 Performance reflects our commitment and service excellence. The trust our marquee clients have shown us is reflected in the financials; at Premier, we value our commitment to providing safe and reliable logistics solutions. As we embark on our journey as a public company, we are filled with a sense of optimism and a robust growth plan. Our precise aim is to increase our service offerings and cater to the best clients in the industry. We are committed to serving high volumes and providing specialised services for better financial results year after year. We are confident in our ability to achieve these goals with the support of all our stakeholders."

On May 17, 2024, Premier Roadlines' shares became public on the stock exchange, trading at a 30% premium above the issue price of Rs 67. A total of Rs 40.36 crore was raised by the firm between May 10 and May 14.

Commenting on the results the management said that, "The company witnessed remarkable revenue growth, propelled by its commitment and service excellence. The services include Project logistics, over-dimensional cargo, and contracted integrated logistics services. The service lines has helped the company in bringing competitive cost advantage and increase in top line as seen in the results."

For the past 40 years, Premier Roadlines Limited has been a reputable logistics service supplier to the Indian subcontinent having more than 28 branches throughout India. It has handled more than 900 clients and more than 3000 pin codes throughout the last 4 decades.