IPO 2024: Listed in November, Company Turns EBITDA Positive in Q2
The net loss of the logistics company widened to Rs 270 crore, a 466.46 per cent increase from Rs 47.7 crore in the same quarter last year.
Zinka Logistics announced its Q2 FY25 results on December 13, 2024. The net loss of the logistics company widened to Rs 270 crore, a 466.46 per cent increase from Rs 47.7 crore in the same quarter last year.
The company’s revenue grew by 55.87 per cent year-on-year to Rs 98.8 crore, up from Rs 63.4 crore. Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) showed a turnaround, from a loss of Rs 34.1 crore in Q2 FY24 to a profit of Rs 15 crore. The EBITDA margin stood at 15.18 per cent.
Excluding an exceptional item of Rs 320 crore, the profit before exceptional items was Rs 12.5 crore, a recovery from the Rs 39.7 crore loss reported in Q2 FY24.
The company got listed on the BSE and NSE on November 22, 2024. From the issue price of Rs 273, Zinka Logistics’ stock has risen by 59.9 per cent. In Tuesday’s trading session, the stock was trading 8.16 per cent higher at Rs 436.05, while the Nifty 50 declined by 1.10 per cent to 24,396.00. The company’s market capitalization stands at Rs 7,695.36 crore.
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About the Company
Founded in April 2015, Zinka Logistics Solutions Ltd (ZLSL) began with an asset-light Full Truck Load (FTL) model for long-haul trucking. The company's operations are now primarily divided into two segments: (i) freight and (ii) truck operator services. The freight segment follows an asset-light model and focuses on long-haul, FTL, open-truck, standard delivery, and inter-city freight services. On the other hand, the truck operator services segment provides Fastags, Fuel Loyalty cards, and subscription services for GPS tracking devices to truck operators. Initially, ZLSL's services supported its freight operations, but over time, it has transformed into a comprehensive solution provider for fleet owners, offering everything from fuel and Fastags to GPS and load board services.
Disclaimer: The article is for informational purposes only and not investment advice.