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Logistics, Small Cap

AVG Logistics announced that the Annual General Meeting (AGM) of the company will be held on 30 September 2024.

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Net profit of AVG Logistics rose 105.93% to Rs 5.21 crore in the quarter ended June 2024 as against Rs 2.53 crore during the previous quarter ended June 2023. Sales rose 22.49% to Rs 122.91 crore in the quarter ended June 2024 as against Rs 100.34 crore during the previous quarter ended June 2023.

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AVG Logistics will hold a meeting of the Board of Directors of the Company on 14 August 2024.

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The award of this tender marks a strategic partnership between AVG and UPSRTC, aimed at enhancing the efficiency and reach of express parcel delivery services.

As the authorized partner, AVG will be responsible for managing and optimizing Express parcel operations, ensuring sustainable, timely and reliable delivery for customers across the designated regions in the state of Uttar Pradesh.

Uttar Pradesh, one of India’s largest and most populous states, presents a unique set of logistical challenges. AVG aims to address these with its efficient delivery network through partnering with UPSRTC, and customer-centric approach.

The launch of AVG's services in this region will streamline the process of Express parcel delivery and also contribute to the state's economic growth by enabling smoother and faster movement of goods.

AVG has secured space in 9,000 UPSRTC buses for Express parcel delivery services and expecting the lifetime revenue of Rs 60 crore over a period of 5 years.

This collaboration with UPSRTC will enable AVG to leverage the extensive bus network for efficient and wide-reaching Express parcel distribution, covering urban and rural areas in the state of Uttar Pradesh.

Sanjay Gupta, managing director & CEO, AVG Logistics, said: “We are honoured to have been selected by UPSRTC as their authorized partner for courier Express parcel services. This collaboration aligns with our strategic goal of expanding our service portfolio and strengthening our presence in the logistics sector.

The partnership with UPSRTC marks a significant milestone for company as it continues to grow and diversify its service offerings. As an authorized partner, we will play a crucial role in optimizing the efficiency and reach of UPSRTC's Express parcel services, contributing to the overall enhancement of the logistics infrastructure in Uttar Pradesh.”

AVG Logistics is a leading multimodal logistics solutions provider based in India. AVG Logistics provides customized and technology-driven solutions across transportation, warehousing, distribution, and supply chain management. Furthermore, the company also offers third-party logistics services (3PL), effectively complementing its wide range of logistics solutions.

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