Indian Transport & Logistics

Jet Freight achieves 47% revenue growth for quarter ended Dec 2021

The company witnessed EBIDTA growth of 65 percent while tonnage grew by 13 percent to 5,479 metric tonnes.

Jet Freight achieves 47% revenue growth for quarter ended Dec 2021

Jet Freight announced its financial results for the quarter & nine months ended December 31, 2021. The company saw 47 percent growth in sales revenue compared to last year amounting to ₹129.66 crore during October - December 2021.

The company witnessed EBIDTA growth of 65 percent for the quarter compared to last year's quarter. Tonnage grew by 13 percent during the quarter from last year's quarter i.e. 5,479 metric tonnes.

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.

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