Global Ocean Logistics profit rises 47% to Rs 6.66 crore

Global Ocean Logistics India Limited reported standalone profit after tax of Rs 6.66 crore for the half year ended September 30, 2026, up 47% from Rs 4.54 crore a year earlier, while revenue from operations rose 7% to Rs 114.96 crore. The board approved the unaudited results on November 6, 2026.

How did Global Ocean Logistics perform in the September half?

Global Ocean Logistics increased operating revenue, pre-tax profit and net profit in the half year ended September 30, 2026 compared with the corresponding period a year earlier. Revenue from operations increased by Rs 7.67 crore to Rs 114.96 crore from Rs 107.29 crore, while total income, including other income, rose to Rs 117.03 crore from Rs 108.31 crore.

Profit before tax increased 46% to Rs 8.88 crore from Rs 6.07 crore, and profit after tax rose by Rs 2.12 crore to Rs 6.66 crore. Basic and diluted earnings per equity share were Rs 4.61, compared with Rs 4.31 in the September 2025 half. Global Ocean Logistics said half-year earnings per share were calculated on a weighted-average basis and were not annualised.

The September 2026 result also exceeded the immediately preceding half year ended March 31, 2026. Operating revenue was Rs 114.96 crore, against Rs 100.57 crore in the March half, while profit after tax was Rs 6.66 crore against Rs 5.70 crore. The September 2026 figures are unaudited, whereas the March 2026 half-year figures were audited.

What changed in Global Ocean Logistics' costs and profitability?

Global Ocean Logistics' total expenses rose 6% year on year to Rs 108.14 crore in the September 2026 half, below the 8% increase in total income to Rs 117.03 crore. This difference coincided with profit before tax increasing by Rs 2.82 crore to Rs 8.88 crore from Rs 6.07 crore.

Cost of services, the largest expense, increased by Rs 4.34 crore to Rs 102.08 crore from Rs 97.74 crore. Employee benefits expense rose to Rs 3.06 crore from Rs 2.06 crore, and other expenses rose to Rs 2.92 crore from Rs 2.28 crore. Finance cost fell to Rs 78,000 from Rs 7.88 lakh over the same comparison.

Calculated from the reported statements, profit after tax equalled 5.79% of operating revenue in the September 2026 half, compared with 4.23% a year earlier. Other income increased to Rs 2.07 crore from Rs 1.02 crore, while current tax expense rose to Rs 2.24 crore from Rs 1.54 crore as pre-tax profit increased.

Global Ocean Logistics said it operates freight-forwarding services through ocean, air, road and rail modes, along with ancillary services, within a single business segment. It therefore did not disclose separate segment revenue, expenses or profit for individual transport modes in the September 2026 results.

What does Global Ocean Logistics' balance sheet show?

Global Ocean Logistics' standalone balance-sheet total was Rs 86.10 crore at September 30, 2026, up from Rs 67.24 crore at March 31, 2026. Share capital remained Rs 14.44 crore, while reserves and surplus increased to Rs 44.52 crore from Rs 37.86 crore during the six-month period.

Trade receivables rose by Rs 10.90 crore to Rs 43.46 crore at September 30 from Rs 32.56 crore at March 31. Short-term loans and advances increased to Rs 16.75 crore from Rs 10.26 crore, while other current assets increased to Rs 11.21 crore from Rs 7.62 crore.

On the liabilities side, trade payables due to creditors other than micro and small enterprises rose to Rs 21.19 crore from Rs 13.17 crore. Other current liabilities increased to Rs 4.28 crore from Rs 54.62 lakh, while short-term borrowings declined to Rs 11.88 lakh from Rs 23.32 lakh.

Cash and cash equivalents declined to Rs 3.01 crore at September 30, 2026 from Rs 15.40 crore at March 31, 2026. The cash-flow statement reported Rs 10.33 crore of net cash used in investing activities, including Rs 7.45 crore deployed in current investments and Rs 2.43 crore in non-current investments.

Why did Global Ocean Logistics' cash balance decline?

Global Ocean Logistics recorded net cash used in operating activities of Rs 2.00 crore in the half year ended September 30, 2026. The operating cash outflow followed working-capital movements despite profit before tax of Rs 8.88 crore and an operating profit before working-capital changes of Rs 8.96 crore.

The statement shows trade receivables increased by Rs 10.90 crore and short-term loans and advances increased by Rs 6.49 crore. These cash uses were partly offset by a Rs 7.75 crore increase in trade payables and a Rs 3.74 crore increase in other current liabilities.

Net cash used in financing activities was Rs 6.02 lakh during the September half, compared with net cash generated of Rs 24.43 crore in the year ended March 31, 2026. The prior full-year financing inflow included Rs 20.81 crore of securities premium from fresh equity issuance and Rs 3.90 crore of fresh equity issued.

What overseas expansion did Global Ocean Logistics disclose?

Global Ocean Logistics incorporated Universal Logistics HK Limited, a wholly owned Hong Kong subsidiary, on July 2, 2026, and said the subsidiary commenced business during the reporting period. The subsidiary is included in the September 2026 unaudited consolidated financial results, while the article's main financial comparisons are based on standalone results.

According to the statutory auditor, Universal Logistics HK Limited contributed revenue of Rs 9.94 crore, profit after tax of Rs 32.44 lakh and net cash inflow of Rs 14.05 lakh for the September 2026 half. The auditor said it had not reviewed the subsidiary's interim financial information and based its conclusion on management-provided information and procedures performed.

On November 6, 2026, the board also approved incorporating a subsidiary in the United Arab Emirates and investing in its share capital. The announcement did not disclose the proposed entity's name, the investment amount, its business scope or an incorporation timetable.

Conclusion

Global Ocean Logistics combined a 7% increase in September-half operating revenue with a 47% rise in standalone profit after tax to Rs 6.66 crore. Total expenses increased more slowly than total income, but the higher profit was accompanied by a Rs 10.90 crore rise in trade receivables and a decline in cash and cash equivalents to Rs 3.01 crore.

The next disclosed matters to watch are the financial contribution from Universal Logistics HK Limited after its July 2, 2026 operational start and progress on the UAE subsidiary approved on November 6, 2026. Global Ocean Logistics has not disclosed the UAE investment amount, operating plan or completion schedule in this filing.