Shares of Aegis Logistics surged after the company announced a sharp increase in quarterly profit driven by strong revenue growth and margin expansion, alongside bold expansion targets including a $1.2 billion capex plan by next year.
Aegis Logistics shares rose sharply on Thursday after the company reported a surge in June-quarter profit, helped by stronger revenue and a steep improvement in operating margins. The stock briefly climbed as much as 7% before giving up most of the advance, and was last trading at ₹1,414.90, up 1.37%, after touching an intraday high of ₹1,497.80.
According to the company’s unaudited results, consolidated net profit for the quarter ended June jumped to ₹484 crore from ₹131 crore a year earlier. Revenue from operations increased 37% to ₹2,357 crore from ₹1,719 crore, while EBITDA almost tripled to ₹715 crore from ₹240 crore. The EBITDA margin widened to 30.3% from 14%, underscoring a much stronger operating performance.
The gas terminal business remained the main driver of growth. Revenue in that division climbed to ₹2,178.6 crore from ₹1,575.5 crore, while segment profit more than quadrupled to ₹575.3 crore. The liquid terminal business also made progress, with revenue rising to ₹178.3 crore from ₹143.9 crore and segment profit improving to ₹109.7 crore from ₹80.4 crore.
Aegis said profit before tax rose to ₹719.3 crore from ₹227.9 crore, while tax expense increased to ₹174.4 crore from ₹52.5 crore. Total expenses also increased, led by higher stock-in-trade purchases, employee costs and finance costs. The company said its audit committee reviewed the results and the board approved them at a meeting on August 6, with statutory auditors issuing an unmodified limited review report. In its latest earnings call, Aegis also pointed to record LPG throughput volumes, the listing of its joint venture subsidiary AVTL and a large expansion pipeline, including a capital expenditure target of $1.2 billion by next year and $5 billion by 2030.
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