Private equity funding boosts Allcargo Global

DALAL STREET SPIKES

Allcargo Global Logistics was up 8.31 per cent at Rs 774 on the BSE after its board approved raising Rs 240 crore from private equity firm Blackstone through the issue of shares, debentures and warrants.

The company's net profit declined 24.9 per cent to Rs 10.29 crore on 0.8 per cent rise in sales to Rs 85.85 crore in Q4 December 2007 over Q4 December 2006.

Allcargo has five key areas of operation, including multi-modal transport, container freight stations, project cargo handling, airfreight and transport logistics.