Sical Logistics Q1 net up 37 pc

Mumbai, Aug 1 (UNI) Sical Logistics, a leading provider of integrated multi-modal logistics for bulk and containerized cargo, has posted a net profit of Rs 11.45 crore for the quarter ened June'06 as compared to Rs 8.38 crore announced unaudited results for the quarter ended 30 June 2005.

Announcing the results, the Company said its net sales for the quarter ended June 2006 were Rs 242 crore against Rs 238 crore for the corresponding period last year.

Commenting on the results, Mr Ashwin Muthiah, Vice Chairman, Sical Logistics, attributed Sicals Q1 performance to the series of measures relating to financial and operational restructuring in the previous twelve months.

He further added that the improvement in efficiencies has resulted in better availability of funds for operations. The Company expects that this will have a greater impact in the subsequential quarters.

UNI SN MAZ AW1706