New Delhi, January 31, 2025 – North Eastern Carrying Corporation Limited (NSE: NECCLTD, BSE: 534615) has announced its unaudited financial results for the quarter ended December 31, 2024. The Board of Directors approved the results in a meeting held on January 31, 2025.
Key Financial Highlights (₹ in Lakhs)
| Particulars | Q3 FY25 | Q2 FY25 | Q3 FY24 | 9M FY25 | 9M FY24 | FY24 |
|---|---|---|---|---|---|---|
| Revenue from Operations | 8,105.18 | 8,194.16 | 8,558.55 | 24,062.76 | 24,327.36 | 33,511.52 |
| Other Income | 2.79 | 5.20 | 10.00 | 44.74 | 49.76 | 161.12 |
| Total Income | 8,107.97 | 8,199.36 | 8,568.55 | 24,107.50 | 24,377.12 | 33,672.64 |
| Employee Benefits Expense | 474.64 | 469.94 | 396.22 | 1,456.05 | 1,248.89 | 1,715.07 |
| Finance Costs | 186.25 | 190.22 | 257.42 | 573.52 | 686.27 | 907.05 |
| Depreciation & Amortization | 56.48 | 67.91 | 87.72 | 198.00 | 244.38 | 312.63 |
| Services Availed – Lorry Freight | 6,653.34 | 6,661.92 | 7,085.47 | 19,354.47 | 20,217.26 | 27,880.08 |
| Other Expenses | 445.44 | 407.16 | 432.44 | 1,305.06 | 1,261.12 | 1,636.98 |
| Total Expenses | 7,816.15 | 7,797.15 | 8,259.27 | 22,887.10 | 23,657.92 | 32,655.81 |
| Profit Before Tax (PBT) | 291.82 | 402.21 | 309.28 | 1,220.40 | 719.20 | 1,016.83 |
| Net Profit After Tax (PAT) | 194.43 | 287.30 | 251.78 | 849.24 | 515.85 | 802.20 |
| Earnings Per Share (EPS) (₹) | 0.20 | 0.29 | 0.26 | 0.84 | 0.53 | 0.84 |
Performance Analysis
- Revenue Decline: Revenue from operations stood at ₹8,105.18 lakh in Q3 FY25, reflecting a YoY decline of 5.3% from ₹8,558.55 lakh in Q3 FY24.
- Profit Growth: The company posted a YoY increase in net profit by 16.9%, reaching ₹194.43 lakh compared to ₹251.78 lakh in Q3 FY24.
- Expense Management: Cost control measures helped reduce total expenses, which fell to ₹7,816.15 lakh in Q3 FY25 from ₹8,259.27 lakh in Q3 FY24.
- Earnings Per Share: EPS remained stable at ₹0.20 per share, reflecting consistent earnings performance.
Segment-Wise Performance
- Transportation Business: The company operates exclusively in the transportation sector.
Auditor’s Observations
In the Limited Review Report, auditors highlighted the following observations:- No Provision for Doubtful Debts – The management considers debtors fully realizable.
- No Recognition of Right to Use Assets – Leased properties are considered short-term leases and hence are not capitalized.
- Debit and Credit Balances Subject to Confirmation – Some account balances remain unconfirmed.
Management Commentary
Sunil Kumar Jain, Chairman & Managing Director, stated:Strategic Outlook
- Focus on Cost Optimization: The company is working on streamlining expenses to improve profitability.
- Revenue Growth Strategies: Future plans include expanding service offerings and network reach.
- Market Positioning: As the logistics sector grows in India, NECCLTD is well-positioned to leverage infrastructure and technology advancements.