The efforts of the Modi government to build up the logistics sector are helping to support the world’s fastest-growing economy. With an estimated 13–14% share of India’s GDP going to the logistics industry, it plays a vital role in boosting the country’s economy. Shreeji Translogistics, a provider of logistics solutions, has recorded outstanding profitability for the first quarter as the logistics sector’s contribution continues to increase.
Its consolidated net profit rose over 50% to Rs 40.93 million in the three months ending June 30. Year-ago net profit was Rs 26.44 million. The profit margin increased 121 basis points year over year to 6.89 percent.
On the revenue front, the operating revenue climbed by 27% annually to Rs 593.98 million. An expanded client base, growth into new areas, and the inclusion of new service lines were the main drivers of the increase in income.
The booming economy’s strong need for effective logistics solutions and the government’s dedication to creating a world-class logistics infrastructure have created new development opportunities.
Numerous possibilities have been generated for participants in the industry as a result of the focus on meeting the expanding demands of the industrial sector and lowering logistics costs from 13% to 8% of GDP.
Shreeji Translogistics is a Mumbai-based supplier of surface logistics and package transportation services. Exchange data shows its shares have risen over 700% in the past two years.
The National Logistics Policy and Gati Shakti, among other government development policies, have accelerated infrastructure development. The World Bank’s LPI 2023 placed India sixth.
Logistics is India’s governmental priority as it develops as a manufacturing centre.
Conclusion:-
Logistics accounts for 13-14% of India’s GDP, and the Modi administration is boosting it. Shreeji Translogistics, a logistics solutions provider, increased consolidated net profit 50% year-over-year with a 6.89% profit margin. The government’s focus on creating a world-class logistics infrastructure has created new development opportunities for the industry. The Mumbai-based supplier has experienced a solid run in the last two years, with shares rising over 700%. The government’s development policy initiatives, such as the National Logistics Policy and Gati Shakti, have accelerated infrastructure development in India, resulting in a six-place ranking on the World Bank’s Logistic Performance Index.
