Lancer Container Lines Ltd. Posts stellar Q2 Results; PAT Zooms 162%

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Mumbai (Maharashtra) [India], November 15: BSE-listed Lancer Container Lines Ltd. (BSE:539841) has announced stellar results for the quarter ended 30 September 2021 (unaudited).

Quarterly and Half-yearly Highlights Quarter ended 30 September 2021 (Consolidated):  

(Rs. in lakhs) Q2FY22 Q2FY21 % Change YoY H1FY22 H1FY21 % Change YoY
Total Revenue 13714.03 7337.39 87% 24862.84 12475.12 99%
PAT 601.45 229.39 162% 898.83 448.31 100%
Basic EPS (In Rs.) 5.99 2.28 163% 8.95 4.46 100%

For the quarter ended 30 September 2021, the Company recorded a stellar increase in revenue, which rose 87%, from Rs. 7337.39 Lakhs (Q2FY21) to Rs. 13714.03 Lakhs (Q2FY22). PAT jumped 162% from Rs. 229.39 Lakhs (Q2FY21) to Rs. 601.45 Lakhs (Q2FY22).

For H1FY22, the Company recorded massive improvement YoY as business recovered leaps and bounds from H1FY21, which was plagued by lockdowns owing to Covid-19. The revenue rose 99% to Rs. 24862.84 Lakhs (H1FY22). PAT doubled to Rs. 898.83 Lakhs (H1FY22) from Rs.448.31 Lakhs (H1FY21). Another notable improvement was in Basic EPS, which also doubled.

The Company recently informed that it had incorporated a Wholly Owned Subsidiary Company, viz LANCIA SHIPPING L.L.C in Emirate of Dubai. Abdul Khalik Chataiwala is the Promoter of Lancer Container lines Limited holds the position of Manager in LANCIA SHIPPING L.L.C.

According to the regulatory filing, the entity’s objective is Sea Shipping Lines Agent, NVOCC, Freight Forwarding, which shall include carrying on all activities as are related or ancillary thereto upon approval of the Department of Economic Development. The business of Wholly owned subsidiary is in line with the mainline of business of the Company

Earlier, the Company’s board of directors had allotted bonus equity shares in the ratio of 2 (two) equity shares for every 1 (one) existing share held by members of the Company whose names appeared in the register of members/ list of beneficial owners on the record date.

Lancer Container Lines Ltd. is one of the leading integrated logistics solution providers in India. Listed on the BSE mainboard, Lancer Container Lines leads the way by providing customized solutions to a wide range of customers.

The Company offers diverse logistics services around the world, and the organization has strong associates in India, the Indian subcontinent, South East Asia, Far East, the MENA region, and CIS Countries. Lancer offers diverse solutions that enable its clients to use its organized network and optimize the cost, performance, and efficiency of their operations which shorten the lead time to the market. Company’s clientele includes JSW steel, Reliance Industries Ltd., Viraj Profiles Ltd., etc.

From humble beginnings in 2011, the Lancer started as Liner Services and further covered all verticals in shipping and freight forwarding, providing world-class space for containers in yards, inland transport services, and container trading. The Company has also added a new line of services such as LCL (Cargo Consolidation), Break Bulk Cargo.

Lancer Container Lines consist of a team of experienced professionals who believe in giving prompt and effective services to all customers in the logistics industry in India and abroad. Our team of highly experienced professionals always works ceaselessly to give client-centric solutions at a reasonable cost.

dsprime

https://financialpost.co.in

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