VRL Logistics’ Q4 Net Profit Grew 374.53%!

VRL Logistics Ltd has reported over 3-fold jump in Q4 net profit. The net profit of the company increased by 374.53% to Rs 248.18 crore in Q4FY23 as compared to Rs 52.30 crore in the same quarter last year and reported a rise of 557.21% sequentially. The net sales of the company increased by 17.56% to Rs 698.19 crore from Rs 593.92 crore in the same quarter last year. 

For the year ended March 31, 2023, the company has reported a 2-fold jump in its net profit at Rs 353.34 crore as compared to Rs 160.11 crore for the previous year. The total income of the company increased by 9.47% at Rs 2,662.87 crore for the year under review as compared to Rs 2,410.47 crore for the year ended March 31, 2022. 

VRL Logistics Ltd was founded in 1976 by Vijay Sankeshwar in Gadag, a small town in North Karnataka with a single truck and a vision that was way ahead of its time.  VRL gradually expanded its services to Bangalore, Hubli and Belgaum. From this humble beginning, VRL has today, grown into a nationally renowned logistics and transport company which is also currently the largest fleet owner of commercial vehicles in India. 

VRL Logistics is engaged in goods transportation and passenger transportation. The Company offers logistics services dealing in the domestic transportation of goods. It is also engaged in bus operations, air chartering service, sale of power and sale of certified emission reductions (CER) units generated from the operation of windmills. The company is one of the leading pan-India surface logistics and parcel delivery service providers. 

Today, the shares of VRL Logistics Ltd opened at Rs 662.35 and has touched a high and low of Rs 680.85 and Rs 666.10, respectively. So far 10,448 shares have been traded on the bourses.     

At the time of writing, the shares of VRL Logistics Ltd were trading at Rs 679.65, an increase of 3.42% from the previous day’s closing price of Rs 657.20 on BSE. The stock has a 52-week high and low of Rs 719 and Rs 483 respectively on BSE.    

The company is currently trading at a PE of 35X against the industry PE of 26.6X. In FY23, the company delivered an ROE and ROCE of 20.4% and 17.8%, respectively. The company is a constituent of Group A stocks and commands a market capitalization of Rs 5,748.43 crore.