Company Announces Earnings for Q1FY24, PAT Jumps 23% QoQ
Mumbai, 11 August, 2023: Lancer Container Lines Ltd., a leading integrated and logistics solution provider in India, has announced that Board has approved and recommended a Bonus Issue in the ratio of 2:1, i.e. 2 bonus shares for every 1 share held as on the Record date decided for this purpose, subject to the approval of the members in the Annual General Meeting and appropriate authorities.
The company further reported on its earnings for quarter ended 30 June 2023. On a consolidated basis, the company reported Revenue from Operations at Rs. 164.25 Cr. Profit Before Tax (PBT) stood at Rs. 16.91 Cr. Profit After Tax (PAT) was reported at Rs. 14.11 Cr, a growth of 23% QoQ.
Earlier, the company had announced that Lancia Shipping LLC (Dubai), a 100% wholly owned foreign subsidiary of Lancer Container Lines Ltd., has entered into a Joint Venture (JV) agreement for vessel operations with entities located in Dubai, UAE. Lancia Shipping LLC will also acquire a business set up in Dubai that is into freight forwarding and liner operations.
Lancer Container Lines Ltd. was incorporated in 2011 by entrepreneur Mr. Abdul Khalik Chataiwala, headquartered in CBD Belapur. Lancer is into providing ‘TOTAL LOGISTICS SOLUTION WITHOUT LIMITS’ and operates an asset-light business with a mix of 14,000+ owned and leased containers, offering services to over 74 ports as well as inland destinations through 14 branches in India and a subsidiary in Dubai, covering more than 30 countries, the principal geographies of operations are supported by a network of associates in the Indian subcontinent, Southeast Asia, the Far East, MENA and CIS countries. Lancer provides services like NVOCC, Empty Container Yard, Container trading, Freight forwarding (Sea, Air, and Road), etc. in India as well as on a global basis. It owns a container yard spread over 20,000 square metre in Panvel near JNPT. Lancer is led by a team of seasoned professionals with robust experience in the shipping and logistics sector.
The company operates globally through various subsidiaries. Its subsidiaries include CIS Global Logistics, Lancia Shipping L.L.C, KMS Maritime India Pvt Ltd, Globepoint Multimodal Logistics Pvt Ltd and LCM Project Pvt Ltd.
CIS Global Logistics, formerly known as CIS Connect Global Logistics, is a trusted provider of comprehensive shipping services across CIS region. Despite the challenges posed by unsettled conditions across borders, CIS Global Logistics excels in delivering cargo through various modes of transportation, including containerized, breakbulk, rail wagons, and barge services. LCM Project specializes in Project Cargo, Break Bulk, and Freight Forwarding services for both air and sea. With a team of experienced professionals, the company ensures on-site presence for project and break-bulk operations, ensuring the safe handling of high-value cargoes.
Globepoint Multimodal Logistics offers comprehensive shipping and Logistics services to LATAM (Latin America), Africa Hinterland and USA. Its services encompass cargo packing, movement, stuffing, customs clearance, transportation, loading, and unloading, providing our clients with total Logistics solutions, it efficiently serves Landlocked countries, ensuring final clearance, de-stuffing, and doorstep delivery through our experienced in-house team. KMS Maritime India Pvt Ltd, is a prominent NVOCC agent and international Logistics provider in India. Since its establishment in late 2020, the company has made remarkable progress in the shipping industry, gaining the trust and reliability of clients. It serves as agents for renowned container lines, offering services to various ports in Europe, the Middle East, Indian Sub-Continent (ISC), and Southeast Asia.
Lancia Shipping L.L.C Dubai is the international subsidiary of Lancer Container Lines Ltd, offering specialized liner services to Europe and container trading worldwide. With a strong presence in the Mediterranean, European, and American regions, it provides customized shipping solutions.
