Velox Shipping and Logistics Limited reports Rs 2.47 crore profit

Velox Shipping and Logistics Limited reported unaudited consolidated profit after tax of Rs 2.47 crore for the half year ended September 30, 2026, versus a Rs 73.28 lakh loss for the year ended March 31, 2026, as revenue from operations reached Rs 70.19 crore. The board approved the results on November 7, 2026.

How did Velox perform in the September 2026 half year?

Velox recorded total income of Rs 71.97 crore and profit before tax of Rs 3.41 crore for the half year ended September 30, 2026. Revenue from operations contributed Rs 70.19 crore, while other income was Rs 1.78 crore. Tax expense totalled Rs 94.29 lakh, resulting in profit after tax of Rs 2.47 crore.

The result contrasts with the audited year ended March 31, 2026, when Velox reported revenue from operations of Rs 20.90 crore and a loss after tax of Rs 73.28 lakh. This compares a six-month reporting period with a preceding full financial year, because the filing does not provide consolidated figures for the half year ended September 30, 2025.

Velox reported total comprehensive income of Rs 2.47 crore for the September 2026 half year, equal to its profit after tax because no other comprehensive income was reported for that period. In the year ended March 2026, total comprehensive loss was Rs 71 lakh, compared with the loss after tax of Rs 73.28 lakh.

What changed between Velox's June and September quarters?

Velox's revenue from operations rose to Rs 46.57 crore in the quarter ended September 30, 2026, from Rs 23.61 crore in the quarter ended June 30, 2026. The September quarter therefore supplied about two-thirds of the Rs 70.19 crore revenue recorded in the first half.

Total income rose to Rs 48.20 crore in the September quarter from Rs 23.77 crore in the June quarter. Other income increased to Rs 1.63 crore from Rs 15.55 lakh, contributing to the change in total income alongside the Rs 22.96 crore increase in revenue from operations.

Velox said it is primarily engaged in one business segment under Indian Accounting Standard 108, Operating Segments. It therefore did not provide separate revenue or profit data by service line, customer category or geography for either the June or September quarter.

How did Velox's costs and quarterly profit move?

Velox's total expenses increased to Rs 46.21 crore in the September 2026 quarter from Rs 22.35 crore in the June 2026 quarter. Cost of service remained the largest expense, rising to Rs 42.03 crore from Rs 20.83 crore as quarterly revenue expanded.

Employee-benefit expense rose to Rs 2.11 crore in September from Rs 75.30 lakh in June. Finance costs increased to Rs 34.28 lakh from Rs 7.92 lakh, depreciation and amortisation reached Rs 25.71 lakh from Rs 12.76 lakh, and other expenses were Rs 1.47 crore against Rs 56.07 lakh.

Profit before tax increased to Rs 1.99 crore in the September quarter from Rs 1.42 crore in the June quarter. After tax expense of Rs 57.15 lakh in September and Rs 37.14 lakh in June, profit after tax was Rs 1.42 crore and Rs 1.05 crore, respectively.

What changed in Velox's balance sheet and cash flow?

Velox's consolidated total assets rose to Rs 88.76 crore at September 30, 2026, from Rs 31.94 crore at March 31, 2026. Total equity increased to Rs 45.00 crore from Rs 9.17 crore, while non-current liabilities rose to Rs 14.48 crore from Rs 6.41 crore.

Cash and cash equivalents stood at Rs 16.49 crore at September 30, 2026, compared with Rs 3.24 crore at March 31, 2026. The cash-flow statement recorded a net increase in cash and cash equivalents of Rs 8.83 crore, alongside Rs 4.37 crore of cash acquired through business combinations and a foreign-currency translation difference of Rs 3.96 lakh.

Operating activities used Rs 16.57 crore during the half year despite profit before tax of Rs 3.41 crore. Net working-capital changes used Rs 19.51 crore, including Rs 19.12 crore for other assets and financial assets and Rs 8.77 crore for trade receivables; financing activities generated Rs 25.02 crore.

How do acquisitions affect Velox's reported figures?

Velox said it completed acquisitions involving Seaman Logistics Solutions Private Limited, Divinus Express Logistics Solutions Private Limited, International Logistics Associates LLC and Anchorage Shipping. The company said the initial accounting for the business combinations remains provisional under Indian Accounting Standard 103, Business Combinations, because purchase-price allocation to identifiable assets and liabilities assumed is still underway.

For Seaman Logistics Solutions and Divinus Express Logistics Solutions, the agreed consideration was Rs 30.50 crore for 68.77% and 80.56% stakes, respectively. Velox had invested or paid Rs 11.45 crore by September 30, 2026, leaving Rs 19.05 crore outstanding under the agreed consideration.

Of the outstanding Rs 19.05 crore, Rs 10.25 crore is to be invested or paid through Velox and Rs 8.80 crore through Anchorage, in which Velox holds 98% equity interest. The balance sheet reported goodwill of Rs 40.24 lakh at September 30, 2026, compared with Rs 2.68 lakh at March 31, 2026.

Conclusion

Velox's first-half results show profit after tax of Rs 2.47 crore on Rs 70.19 crore of revenue from operations, after the group reported a Rs 73.28 lakh loss in the preceding full financial year. The September quarter generated Rs 46.57 crore of revenue and Rs 1.42 crore of profit after tax, exceeding the June-quarter figures of Rs 23.61 crore and Rs 1.05 crore.

The disclosed matters to watch are payment or investment of the remaining Rs 19.05 crore acquisition consideration and completion of purchase-price allocation within one year of each acquisition date. Velox said the provisional goodwill or capital reserve could change when the measurement-period accounting is finalised.