Globe International Carriers Limited — Important, 15-11-2024: Updates

The Board of Directors of Globe International Carriers Limited convened to consider the financial results for the half-year ended September 30, 2024. The unaudited financial results indicate a revenue from operations of ₹7,021.69 crore, compared to ₹5,712.33 crore in the same period of the previous year. The company reported a profit before tax of ₹179.87 crore, down from ₹100.20 crore a year ago. Total expenses were approximately ₹6,857.44 crore, while net cash used in operating activities was ₹460.26 crore, a significant improvement compared to the previous year's outflow.

Additionally, M/s M Sancheti and Associates was appointed as the Secretarial Auditor, and Mr. Jaswant Kumar Verma was appointed as Internal Auditor for the current financial year. The company continues to display a favorable cash position with cash and cash equivalents at ₹57.53 crore by the end of the half-year. Overall, the company’s strategic direction remains positive amid ongoing operational developments.