Allcargo Logistics inches higher after Q3 numbers

Consolidated net profit dropped 13.5% to Rs 41.31 crore in Q3 December 2019 (Q3 FY20) as against Rs 47.73 crore reported in Q3 December 2018 (Q3 FY19).

Net sales fell 0.9% year-on-year (YoY) to Rs 1,786.83 crore in Q3 FY20. Profit before tax slipped 0.7% to Rs 80.46 crore Y-o-Y. Current tax expenses also surged 101.9% to Rs 72.79 crore during the period under review. The result was announced after trading hours yesterday, 13 February 2020.

EBITDA climbed 12% to Rs 126.40 crore during Q3 FY20 as against Rs 112.90 crore in Q3 FY19. EBITDA margin stood at 7.07% in Q3 FY20 as compared to 6.26% in Q3 FY19.

Meanwhile, the board has considered and approved the re-appointment of Shashi Kiran Shetty, as the chairman and managing director of the company for a term of 5 years with effect from Wednesday, 1 April 2020.

Allcargo Logistics is engaged in providing integrated logistics solutions. It offers logistics services across multimodal transport operations, inland container depot, container freight station operations, contract logistics operations, and project and engineering solutions.

Allcargo Logistics rose 0.73% to Rs 110.50. It hovered in the range of Rs 106.25 to Rs 115.95 in intraday trade.

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