Consolidated Logistics YTD- Income Rs 510 crore from Rs.456.53 crore (up by 12 %)
Consolidated Logistics YTD- Income Rs 510 crore from Rs.456.53 crore (up by 12 %); Consolidated Logistics YTD- PBIT Rs 44.72 crore from Rs.43.82 crore (up by 2.05 %); Consolidated Sical Logistics YTD- PAT Rs 49.13 crore from Rs.37.11 crore (up by 32 %)
BSE: 520086 | NSE: SICAL | Reuters: SICA.BO | Bloomberg: SIC@IN
Chennai, India, 29 January 2008: Sical Logistics Ltd, India's leading provider of integrated multi-modal logistics solutions for bulk and containerized cargo and offshore logistics, today announced that the un-audited consolidated net profit nine months ended 31 December 2007 was Rs.49.13 crore, up by 32%, from Rs.37.11 crore a year ago, while consolidated logistics net income on YTD basis was Rs 510 crore, up by 12%, from Rs.456.53 crore a year ago.
Earnings before interest and taxes (PBIT) of Sical's core business of logistics for the nine months period was Rs 44.72 crore, up by 2.05% from Rs.43.82 crore a year ago.
The scheme of demerger of Trading, Plantations & Services business of Sical Logistics Ltd., to Sicagen India Limited has been approved by the High Court of Madras by order dated 20.12.2007, w.e.f 1.10.06, and the effective date of demerger is 14.01.08. The above results have been prepared after considering the demerger.
On the results, Ashwin C Muthiah, Chairman, Sical Logistics said, 'The results for Quarter 3 FY 2008 are in line with our plans. The quarter saw significant growth in our core logistics business in terms of revenues and customers. The infrastructure projects are on track, and we recently received the Foreign Investment Promotion Board approval for the $26 mn equity investment in Sical Infra Assets Ltd.'
'We will continue with our strategy of focusing on our competencies in the logistics business and the completion of the demerger of our non logistics business into a separate entity, Sicagen India Ltd in January 2008, will further unlock value for our stakeholders.' added Ashwin Muthiah, Chairman, Sical Logistics.
About Sical
Sical Logistics Ltd is India's leading integrated multi-modal bulk and containerized logistics solutions provider handling around 22mn tones of bulk cargo as well as over 5,00,000 TEUs of containerized cargo. Headquartered in Chennai in the south of India, Sical formerly South India Corporation Agencies Limited) is listed on the Mumbai Stock Exchange and the National Stock Exchange.
The services of the company are segmented as:
Bulk logistics- Stevedoring/ Port terminals/ Customs and agency services/Trucking/ Rail Road and Warehousing
Container logistics - Box terminals/ ICDs and CFS
Offshore logistics - O&M of offshore supply vessels/ Owning PSV / Dredger
Sical's delivery network includes an exclusive walk-in berth at Chennai for ships carrying bulk cargo; a container terminal at Tuticorin, 4.5 lakh square feet of storage across over 100 warehouses; owned and regularly contracted fleet of over 2500 transport vehicles, and container freight stations at 3 locations across India. Sical's FY2006-07 revenue was Rs 8.92 billion on Rs 301.9 million equity capital.
Media Contacts
Richa Tilokani, Sical Logistics Ltd
Voice: +91.44.22350724, Fax: +91.44.22353655, richa@sical.com
Samantha Unnikrishnan, Ogilvy Public Relations Worldwide
Voice: +91.44.44344326, Fax: +91.44.44344710, samantha.unnikrishnan@ogilvy.com
Ogilvy Public Relations Worldwide