Corporate Feature     

Published: May 31, 2024
Updated: May 31, 2024

NECC Ltd

Reports robust earnings for Q4FY24: Net profit Jumps 154% YoY

North Eastern Carrying Corporation Ltd. (NECC) (BSE: 534615, NSE: NECCLTD), a leading player in domestic, international, commercial, and industrial goods transportation, has announced its earnings for the quarter and year ended 31 March 2024.

For the year ended 31 March 2024, the company saw a robust 9.52% growth in its revenue from operations, growing from Rs. 30599.22 Lakhs (FY23) to Rs. 33511.52 Lakhs (FY24). EBITDA grew 5.08% YoY, from Rs. 1975.04 Lakhs (FY23), to Rs. 2075.39 Lakhs (FY24). PAT grew 39% YoY, from Rs. 577.09 Lakhs (FY23), to Rs. 802.20 Lakhs (FY24).

Earlier, the company announced that it bagged an order from GAIL (India) Ltd. for transportation of polymer under a contract value of Rs. 52.48 Crores for a period of three years. The company had recently entered into MOU with SG logistic Management Pvt Ltd. to invest up to Rs. 20 Crores for up to 20% of shares/ Securities for the purpose of trucking through Electric Vehicles.

Since its inception, North Eastern Carrying Corporation has been providing clients with flexible, responsive, and affordable services that they deserve. The company utilizes its deep operating knowledge to offer extraordinary solutions tailored to the unique needs of its clients. Specializing in domestic, international, commercial, and industrial goods transportation, along with warehousing services, North Eastern Carrying Corporation has established itself as a leading freight forwarding company in India.

For those seeking to transport goods from one destination to another, North Eastern Carrying Corporation offers cost-effective solutions. Its services encompass a wide array of freight management and customized logistics solutions, supported by an automated ERP-based software system. Leveraging its operational expertise, extensive transportation network, and advanced technology, the team is dedicated to providing nationwide transport services in Nepal, Bhutan, and India.

Currently, NECC offers services including part truck load (PTL), full truck load (FTL), bulk movements, ODC movements, warehousing, and 3PL. With its Part Truck Load (PTL) NECC facilitates the movement of goods and small parcels 50kg’s from various locations across India to the eastern and northeastern regions of the country. This segment represents the flagship business of the company, which prides itself on being the foremost player in the entire region in terms of network density and serviceability. In its Full Truck Load (FTL), NECC extends this service to major corporate clients, providing the flexibility to transport trucks from any origin to any destination as per the specific requirements of the client.

As one of the top freight forwarding companies in India and among the best Goods Transport Agencies in the region, North Eastern Carrying Corporation continues to set the standard for excellence in the industry.