VRL Logistics announced that ICRA has reaffirmed the existing long term rating at ICRA A+. The outlook on the long term rating is Stable.

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Profit before tax (PBT) in Q4 March 2020 stood at Rs 3.27 crore, down by 90% from Rs 32.64 crore in Q4 March 2019. Current tax expenses declined 99.3% to Rs 0.08 crore in the fourth quarter compared with the same period last year.

EBITDA fell 4.5% to Rs 59.06 crore in Q4 FY20 from Rs 61.87 crore in Q4 FY19. EBITDA margin stood at 11.81% in Q4 March 2020 as against 12.02% in Q4 March 2019.

With respect to the impact of COVID-19 on its business, the company said: Given the uncertainties associated with the nature and duration of this pandemic, the actuals may differ from the estimates considered in these financial results and the Company will continue to closely monitor any material changes to future economic conditions and respond accordingly.

VRL Logistics provides goods and passenger transportation services.

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Net profit of VRL Logistics declined 89.57% to Rs 2.14 crore in the quarter ended March 2020 as against Rs 20.52 crore during the previous quarter ended March 2019. Sales declined 2.94% to Rs 497.83 crore in the quarter ended March 2020 as against Rs 512.92 crore during the previous quarter ended March 2019.

For the full year,net profit declined 1.97% to Rs 90.11 crore in the year ended March 2020 as against Rs 91.92 crore during the previous year ended March 2019. Sales rose 0.43% to Rs 2118.54 crore in the year ended March 2020 as against Rs 2109.54 crore during the previous year ended March 2019.

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VRL Logistics will hold a meeting of the Board of Directors of the Company on 20 June 2020.

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