 "Allcargo Logistics freezes at 20% upper limit, at new high on robust Q2 nos")
Shares of Allcargo Logistics were locked at the 20 per cent upper circuit at Rs 328.95, also its fresh life-time high, on the BSE on Tuesday, after the company’s reported 355 per cent year-on-year (YoY) jump in consolidated net profit at Rs 264 crore in September quarter (Q2FY22). The logistics company had profit of Rs 58 crore in a year ago quarter.
The stock surpassed its previous high of Rs 318 touched on October 5, 2021. The counter has seen huge activity with trading volume having jumped over six times. Till 02:25 pm; a combined 9.45 million shares changed hands and there were pending buy orders for around 320,000 shares on the NSE and BSE. In comparison, the S&P BSE Sensex was down 0.18 per cent at 60,030.
In Q2FY22, the company’s revenue from operations more-than-doubled to Rs 4,978 crore from Rs 2,337 crore in the corresponding quarter of previous fiscal. Earnings before interest, tax, depreciation and amortization (ebitda) margins improved 36 basis points to 7.29 per cent from 6.93 per cent.
The record performance has been delivered by exceptional leadership of the management team across businesses. The international supply chain business (MTO segment) witnessed sustained growth on the back of volume growth and expansion in market share in favorable market conditions, Allcargo Logistics said.
Transformation continues to drive sales acceleration and digital initiatives include data projects, automation, ECU EDI, ECU click and other apps to improve customer experience and service delivery. ECU360 is now a mature digital platform with front end deployed on cloud, the company said.
The management expects the tail winds from liner business to sustain. The industry went through pain with low rates over several years and has now turned around post consolidation and do not see freight rates going back to earlier levels in near future, the management said.
The stock surpassed its previous high of Rs 318 touched on October 5, 2021. The counter has seen huge activity with trading volume having jumped over six times. Till 02:25 pm; a combined 9.45 million shares changed hands and there were pending buy orders for around 320,000 shares on the NSE and BSE. In comparison, the S&P BSE Sensex was down 0.18 per cent at 60,030.
In Q2FY22, the company’s revenue from operations more-than-doubled to Rs 4,978 crore from Rs 2,337 crore in the corresponding quarter of previous fiscal. Earnings before interest, tax, depreciation and amortization (ebitda) margins improved 36 basis points to 7.29 per cent from 6.93 per cent.
The record performance has been delivered by exceptional leadership of the management team across businesses. The international supply chain business (MTO segment) witnessed sustained growth on the back of volume growth and expansion in market share in favorable market conditions, Allcargo Logistics said.
Transformation continues to drive sales acceleration and digital initiatives include data projects, automation, ECU EDI, ECU click and other apps to improve customer experience and service delivery. ECU360 is now a mature digital platform with front end deployed on cloud, the company said.
The management expects the tail winds from liner business to sustain. The industry went through pain with low rates over several years and has now turned around post consolidation and do not see freight rates going back to earlier levels in near future, the management said.
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