Karachi: Cordoba Logistics and Ventures Limited (CLVL) has announced its financial results for the first quarter ended September 30, 2024, 0n 30 Oct 2024. According to information available from the Pakistan Stock Exchange (PSX), the company showed a significant increase in profits both on a standalone and consolidated basis.

On a consolidated basis, CLVL reported a substantial revenue of PKR 156.53 million for the quarter, marking an increase of 113.53% over the previous year's PKR 73.31 million. The company's profit after tax rose dramatically to PKR 40.74 million, up from PKR 19.60 million in 2023, showcasing a growth of 107.82%. This financial uptick is reflected in the earnings per share, which climbed to PKR 0.565 from PKR 0.272.

The standalone revenue for the logistics and rental of commercial vehicles and other services amounted to PKR 7.79 million, slightly down from PKR 12.92 million in the previous year. However, the profit after tax on a standalone basis improved, recording PKR 0.25 million compared to a loss in the prior year. EBITDA for the quarter stood robust at PKR 8.52 million.

Further boosting its financial health, Cordoba Financial Services Ltd. (CFSL), a wholly owned subsidiary of CLVL, generated revenue of PKR 148.75 million from investment finance services, significantly up from the previous year. CFSL's profit after tax also saw a substantial rise to PKR 44.45 million.

Amidst these financial gains, CLVL continues its strategic investments, having injected PKR 20.50 million in CFSL and converted outstanding loans to equity shares, enhancing its financial structure.

CLVL appreciates the consistent efforts and contributions made by its employees and partners, which have been crucial in achieving these robust financial results.