Arshiya International posts lower net

Arshiya International has posted a lower first quarter net profit on a standalone basis as expenses rose for Mumbai-based logistics provider. In the April to June period, the net profit dropped to about Rs 9 crore from about Rs 12 crore, in the corresponding period last year. Total expenses rose by about 42 per cent to Rs 150 crore. Finance costs more than doubled to about Rs 32 crore. Revenue was driven by the logistics segment which was up 40 per cent. Total revenue increased to Rs 182 crore from Rs 128 crore. On a consolidated basis, the company booked profits of about Rs 35 crore in the April to June period (up from about Rs 24 crore a year ago). Revenue increased by over a half to Rs 342 crore (Rs 223 crore in Q1FY12). Consolidated results combine results of logistics, free trade warehouse zones, containerised rail transport operations and software.