AVG Logistics announced that the Board of Directors of the Company at its meeting held on 29 May 2024, has recommended a Final dividend of Rs.1.2 per share (i.e.12%), subject to the approval of the shareholders.Powered by Capital Market - Live News

Net profit of AVG Logistics rose 106.59% to Rs 22.87 crore in the quarter ended March 2024 as against Rs 11.07 crore during the previous quarter ended March 2023. Sales rose 21.33% to Rs 136.95 crore in the quarter ended March 2024 as against Rs 112.87 crore during the previous quarter ended March 2023.For the full year,net profit rose 282.73% to Rs 31.92 crore in the year ended March 2024 as against Rs 8.34 crore during the previous year ended March 2023. Sales rose 12.36% to Rs 479.89 crore in the year ended March 2024 as against Rs 427.11 crore during the previous year ended March 2023. ParticularsQuarter EndedYear Ended�Mar. 2024Mar. 2023% Var.Mar. 2024Mar. 2023% Var. Sales136.95112.87 21 479.89427.11 12 OPM %15.5223.43 -17.4517.55 - PBDT24.6120.64 19 66.8246.98 42 PBT14.6011.97 22 28.4311.18 154 NP22.8711.07 107 31.928.34 283 Powered by Capital Market - Live News

AVG Logistics will hold a meeting of the Board of Directors of the Company on 29 May 2024Powered by Capital Market - Live News

AVG Logistics is partially liquidating its investment from existing Joint venture NDR AVG Business Park which was a prime warehouse project in New Delhi. NDR Warehousing (NDR) is the Joint Venture Partner of AVG Logistics through a Joint venture company namely NDR-AVG Business Park Private Limited formed in the year 2018. In this JV, AVG holds 35% shareholding and NDR holds 65% shareholding. In a significant development, AVG Logistics has divested approximately 69% of its investment at the consideration of Rs. 22 crore and cost of which was Rs. 6.78 crore and resultantly AVG has made a profit of Rs. 15.2 crore in Q4 FY24 from this transaction, further AVG will retain an original investment of Rs 3.06 crore through units in NDR InvIT Trust, currently valued at Rs  9.95 crore. The proceeds from this transaction will be utilized towards (i) working capital requirements to drive further business growth, towards paying down debt resulting in decrease in interest expenses & improve profitability and general corporate purposes.Powered by Capital Market - Live News

Net profit of AVG Logistics rose 255.56% to Rs 4.80 crore in the quarter ended December 2023 as against Rs 1.35 crore during the previous quarter ended December 2022. Sales rose 17.20% to Rs 124.77 crore in the quarter ended December 2023 as against Rs 106.46 crore during the previous quarter ended December 2022. ParticularsQuarter Ended�Dec. 2023Dec. 2022% Var. Sales124.77106.46 17 OPM %18.1517.59 - PBDT16.0911.02 46 PBT6.512.20 196 NP4.801.35 256 Powered by Capital Market - Live News