Aqua Logistics Q1 FY 11 net profit vaults 99 pc at Rs 8.69-cr

MUMBAI: Leading domestic logistics and supply-chain company, Aqua Logistics said its net profit jumped by 99.17 per cent at Rs 8.69-crore in the quarter ended June as against Rs 4.37-crore in the corresponding quarter in the year-ago period.

Net sales increased by 62.93 per cent at Rs 125.31-crore in Q1 FY 11 as compared to Rs 76.91-crore in the corresponding quarter last fiscal, a company statement said.

EBITDA (Earnings Before Income, Tax, Depreciation and Amortisation) during the quarter under review increased by 63.40 per cent at Rs 14.32-crore as against Rs 8.76-crore in QI FY 10, it said.

Recently, the company bagged an order worth around Rs 100-crore from Gammon India for managing the logistics and transportation of aggregates from Gammon India's quarries in Bihar.

Also, the company's Board in June approved a proposal to raise funds to the extent of USD 70-million, or its equivalent sum of Indian Rupees, by way of issue of ADRs, GDRs, QIP, FCCB, etc.

Aqua Logistics is a third-party logistics service provider (3PL) delivering end-to-end solutions in the logistics and supply-chain domain to its customers. It provides supply-chain consulting, logistics execution and project logistics.