Jet Freight Logistics announces revenue growth of 47% yoy for Q3FY22

16 Feb 2022 , 10:08 AM

Jet Freight Logistics Ltd announced its financial results for the quarter & nine months ended December 31, 2021. The company saw 47% growth in sales revenue compared to last year amounting Rs129.66 crore during October-December 2021.

The company witnessed an exponential EBIDTA growth of 65% for the quarter compared to last year’s quarter. Tonnage grew by 13% during the quarter from last year’s quarter i.e. 5,479 Metric Tonnes.

Commenting on the quarterly performance, Richard Francis Theknath, Chairman and Managing Director of Jet Freight said, “While the pandemic ripple effect still exists, I’m pleased to say that compared to last year the growth number for the company has been consistently getting better.

We are seeing good volumes of sea freight and we are succeeding as we are connected to several trade lanes. We are focused on growing domestic logistics and aim to do at least a 30 percent growth year on year.”

Richard added that the company continued to deliver strong revenue performance, especially across e-commerce, pharma and international freight forwarding. Company is undergoing business transformation which will not only bring multi-dimensional growth in the business but also digitize the operational process and optimizing operating costs.

Company said the adaption of electric vehicle for last mile delivery, through wholly owned subsidiary company Jet Freight Express Private Limited, branded as “JETXPS” has shown a big hit in e-commerce industry, witnessing the motto of sustainability while serving consumers within committed time. Jet Freight will also focus on advancing the “Jet Freight” app, a technology driven application accessible to clients for integrated logistics solution.

Key Highlights:

• Tonnage grew by 13% for the December 2021 quarter
• The Company has shown revenue growth of 47% for the December 2021 quarter
• EBITDA has shown 65% growth during the reported period
• Sustainability approach by adapting electric vehicles for last mile delivery

At around 10:09 AM, 72.70 per piece lower by 0.41% on Sensex.