Raag Technologies & Services reports 32% YoY growth in Q2 FY21
November 4, 2020: The third-party-logistics (3PL) companies, Raag Technologies & Services (RTS), has reported a 32 percent year-on-year growth in revenue in Q2 FY 2020-21; witnessing a surge in deliveries across sectors.
November 4, 2020: The third-party-logistics (3PL) company, Raag Technologies & Services (RTS), has reported a 32 percent year-on-year growth in revenue in Q2 FY 2020-21; witnessing a surge in deliveries across sectors.
"With its complete suite of services and solutions, the company has empowered large-scale manufacturers and distributors, enabling them to resolve the logistics challenges in the new normal," reads the release.
Early this year, Spoton Logistics, India's engineering & technology-driven express logistics company had picked up a majority stake in RTS.RTS continues to operate as a separate entity with a separate balance sheet and management team.
Narasimhan Raghavan, director, RTS, said, “We have seen remarkable growth in Q2 and continue to witness a strong growth largely driven by the rebound in the automotive, industrial, FMCG, and energy & infrastructure sectors. While in Q1, we saw apparent hiccups in terms of infrastructural challenges, non-availability of the fleet, and so on, most of the issues vanished beginning May.”
“The use of technology and our expertise over the years has proven to be a cornerstone of our success. This not only supported our organic growth but as a result, we also saw a significant increase in new customers in the first half of this financial year,” he added.
Over the last decade, RTS has demonstrated service value and cost reduction to OEMs in Tier-1 and Tier-2 markets. It leverages home-built technology tools and best of breed external software to provide best-in-class logistic solutions to sectors such as automotive, industrial, FMCG, energy & infrastructure, etc.